Public Employees Retirement System of Ohio Cuts Position in General Electric (NYSE:GE)

Public Employees Retirement System of Ohio lowered its holdings in shares of General Electric (NYSE:GE) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,447,233 shares of the conglomerate’s stock after selling 368,749 shares during the quarter. Public Employees Retirement System of Ohio owned 0.06% of General Electric worth $41,236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in General Electric by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 635,893,221 shares of the conglomerate’s stock worth $7,179,235,000 after buying an additional 6,167,111 shares during the period. Vanguard Group Inc increased its stake in General Electric by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 635,893,221 shares of the conglomerate’s stock worth $7,179,235,000 after buying an additional 6,167,111 shares during the period. Harris Associates L P increased its stake in General Electric by 35.1% in the 4th quarter. Harris Associates L P now owns 121,783,710 shares of the conglomerate’s stock worth $921,903,000 after buying an additional 31,634,318 shares during the period. Geode Capital Management LLC increased its stake in General Electric by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 102,022,630 shares of the conglomerate’s stock worth $770,919,000 after buying an additional 6,235,071 shares during the period. Finally, Northern Trust Corp increased its stake in General Electric by 0.8% in the 4th quarter. Northern Trust Corp now owns 101,447,654 shares of the conglomerate’s stock worth $767,959,000 after buying an additional 763,673 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

Shares of NYSE:GE traded up $0.05 during trading on Wednesday, reaching $10.27. The stock had a trading volume of 31,393,858 shares, compared to its average volume of 81,543,250. General Electric has a one year low of $6.66 and a one year high of $14.44. The firm has a market cap of $89.21 billion, a P/E ratio of 15.80, a P/E/G ratio of 2.34 and a beta of 0.98. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.77 and a quick ratio of 1.50. The stock has a 50-day moving average of $9.99.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 30th. The conglomerate reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The company had revenue of $27.29 billion during the quarter, compared to analysts’ expectations of $27.31 billion. General Electric had a negative net margin of 14.65% and a positive return on equity of 10.32%. General Electric’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the business earned $0.16 EPS. As a group, analysts forecast that General Electric will post 0.61 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 1st will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Friday, June 28th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.

In other General Electric news, Director Edward P. Garden sold 3,370,314 shares of General Electric stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $9.53, for a total transaction of $32,119,092.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward P. Garden sold 1,289,538 shares of General Electric stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total transaction of $12,921,170.76. Following the sale, the director now owns 25,000 shares of the company’s stock, valued at $250,500. The disclosure for this sale can be found here. 1.13% of the stock is owned by company insiders.

GE has been the topic of several recent analyst reports. Barclays raised their price target on shares of General Electric from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. ValuEngine downgraded shares of General Electric from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Gordon Haskett downgraded shares of General Electric to an “underperform” rating and set a $7.00 target price on the stock. in a research report on Wednesday, March 6th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $6.00 target price on shares of General Electric in a research report on Wednesday, March 6th. Finally, Cowen reissued a “hold” rating and set a $8.00 target price on shares of General Electric in a research report on Tuesday, February 26th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $11.89.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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