Great Lakes Advisors LLC Sells 35,282 Shares of General Electric (NYSE:GE)

Great Lakes Advisors LLC decreased its position in shares of General Electric (NYSE:GE) by 14.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 206,218 shares of the conglomerate’s stock after selling 35,282 shares during the period. Great Lakes Advisors LLC’s holdings in General Electric were worth $32,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in GE. Vanguard Group Inc. lifted its position in shares of General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after purchasing an additional 550,996 shares during the last quarter. Capital International Investors increased its stake in General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after buying an additional 5,309,543 shares during the period. Capital World Investors lifted its holdings in General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Norges Bank purchased a new stake in General Electric in the 4th quarter valued at about $1,193,159,000. Finally, Canada Pension Plan Investment Board boosted its position in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group boosted their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Jefferies Financial Group upped their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Royal Bank of Canada increased their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $190.38.

General Electric Stock Performance

Shares of General Electric stock traded down $2.62 during trading on Friday, hitting $161.23. 3,954,854 shares of the company’s stock were exchanged, compared to its average volume of 6,700,422. The stock has a market capitalization of $176.48 billion, a price-to-earnings ratio of 52.88, a PEG ratio of 1.73 and a beta of 1.18. The business has a 50-day simple moving average of $165.78 and a 200-day simple moving average of $163.18. General Electric has a 52-week low of $84.42 and a 52-week high of $177.20. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share. On average, research analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is 36.72%.

General Electric 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.