Profund Advisors LLC Has $2.80 Million Stock Holdings in General Electric (NYSE:GE)

Profund Advisors LLC cut its stake in General Electric (NYSE:GE) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,641 shares of the conglomerate’s stock after selling 143 shares during the quarter. Profund Advisors LLC’s holdings in General Electric were worth $2,804,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of GE. Studio Investment Management LLC increased its stake in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. MFA Wealth Advisors LLC acquired a new stake in General Electric during the second quarter worth about $31,000. Kapitalo Investimentos Ltda acquired a new stake in General Electric during the fourth quarter worth about $32,000. Financial Connections Group Inc. acquired a new stake in General Electric during the second quarter worth about $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in General Electric during the first quarter worth about $34,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Up 0.7 %

General Electric stock opened at $187.43 on Monday. The stock has a market cap of $205.16 billion, a P/E ratio of 61.45, a P/E/G ratio of 1.65 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a twelve month low of $84.42 and a twelve month high of $187.99. The company’s 50-day moving average price is $168.69 and its two-hundred day moving average price is $170.57.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. As a group, analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GE shares. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group boosted their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. UBS Group boosted their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Sanford C. Bernstein started coverage on shares of General Electric in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price objective for the company. Finally, StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $191.36.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.