River & Mercantile Asset Management LLP grew its position in General Electric (NYSE:GE) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,340,104 shares of the conglomerate’s stock after purchasing an additional 43,700 shares during the period. General Electric comprises about 0.8% of River & Mercantile Asset Management LLP’s portfolio, making the stock its 28th largest position. River & Mercantile Asset Management LLP’s holdings in General Electric were worth $11,987,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of General Electric by 1.4% in the second quarter. Vanguard Group Inc. now owns 648,159,140 shares of the conglomerate’s stock valued at $6,805,671,000 after purchasing an additional 8,989,832 shares during the last quarter. BlackRock Inc. grew its position in General Electric by 1.9% during the second quarter. BlackRock Inc. now owns 512,742,827 shares of the conglomerate’s stock valued at $5,383,800,000 after buying an additional 9,483,976 shares during the period. Price T Rowe Associates Inc. MD grew its position in General Electric by 26.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 365,565,828 shares of the conglomerate’s stock valued at $3,838,441,000 after buying an additional 76,193,032 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in General Electric by 0.3% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 112,158,363 shares of the conglomerate’s stock valued at $1,177,663,000 after buying an additional 364,061 shares during the period. Finally, Northern Trust Corp grew its position in General Electric by 0.5% during the second quarter. Northern Trust Corp now owns 102,577,946 shares of the conglomerate’s stock valued at $1,077,069,000 after buying an additional 498,587 shares during the period. Institutional investors own 58.97% of the company’s stock.
NYSE:GE traded down $0.17 on Monday, reaching $11.35. 45,574,125 shares of the company’s stock were exchanged, compared to its average volume of 73,406,281. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.84 and a quick ratio of 1.60. The firm has a market cap of $99.13 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 2.46 and a beta of 1.13. General Electric has a 52 week low of $6.66 and a 52 week high of $11.75. The stock has a fifty day simple moving average of $9.25 and a 200-day simple moving average of $9.58.
General Electric (NYSE:GE) last issued its earnings results on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $23.36 billion during the quarter, compared to analyst estimates of $22.93 billion. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the business earned $0.14 earnings per share. As a group, sell-side analysts predict that General Electric will post 0.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, September 16th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.35%. General Electric’s dividend payout ratio is presently 6.15%.
In other General Electric news, VP Thomas S. Timko bought 10,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was purchased at an average price of $8.83 per share, for a total transaction of $88,300.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leslie Seidman bought 6,500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of $7.80 per share, with a total value of $50,700.00. Following the transaction, the director now directly owns 6,500 shares of the company’s stock, valued at $50,700. The disclosure for this purchase can be found here. Insiders have acquired 414,136 shares of company stock valued at $3,457,984 in the last quarter. Company insiders own 1.13% of the company’s stock.
Several equities analysts recently weighed in on the stock. William Blair restated a “buy” rating on shares of General Electric in a research report on Friday, August 16th. Royal Bank of Canada restated a “buy” rating and set a $13.00 price target on shares of General Electric in a research report on Wednesday, October 30th. Morgan Stanley assumed coverage on shares of General Electric in a research report on Thursday, September 5th. They set an “equal weight” rating and a $10.00 price target for the company. ValuEngine upgraded shares of General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $10.00 price target for the company in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $10.41.
About General Electric
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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