Strs Ohio Lowers Stock Holdings in General Electric (NYSE:GE)

Strs Ohio trimmed its position in shares of General Electric (NYSE:GE) by 23.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,437,597 shares of the conglomerate’s stock after selling 1,941,303 shares during the quarter. Strs Ohio owned 0.07% of General Electric worth $67,594,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GE. Arbor Wealth Management LLC acquired a new stake in shares of General Electric during the 4th quarter worth about $30,000. Manchester Financial Inc. acquired a new stake in shares of General Electric during the 2nd quarter worth about $30,000. SevenBridge Financial Group LLC raised its position in shares of General Electric by 100.4% during the 4th quarter. SevenBridge Financial Group LLC now owns 4,193 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 2,101 shares in the last quarter. Executive Wealth Management LLC acquired a new stake in shares of General Electric during the 4th quarter worth about $36,000. Finally, Lenox Wealth Advisors LLC raised its position in shares of General Electric by 3,735.0% during the 2nd quarter. Lenox Wealth Advisors LLC now owns 3,835 shares of the conglomerate’s stock worth $40,000 after acquiring an additional 3,735 shares in the last quarter. Institutional investors own 57.81% of the company’s stock.

Shares of NYSE:GE traded down $0.35 during trading on Monday, reaching $9.65. The company had a trading volume of 1,772,656 shares, compared to its average volume of 50,984,664. The company has a market cap of $87.27 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 2.21 and a beta of 1.03. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.73 and a quick ratio of 1.50. The firm’s fifty day moving average price is $10.35. General Electric has a fifty-two week low of $6.66 and a fifty-two week high of $13.78.

General Electric (NYSE:GE) last released its earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. The business had revenue of $28.83 billion for the quarter, compared to analyst estimates of $28.83 billion. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. On average, equities research analysts expect that General Electric will post 0.62 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 1st were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Friday, June 28th. General Electric’s payout ratio is currently 6.15%.

In related news, Director Edward P. Garden sold 3,370,314 shares of General Electric stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $9.53, for a total value of $32,119,092.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $12,921,170.76. Following the completion of the sale, the director now owns 25,000 shares in the company, valued at $250,500. The disclosure for this sale can be found here. Insiders own 1.13% of the company’s stock.

Several equities research analysts have recently weighed in on GE shares. JPMorgan Chase & Co. reissued a “sell” rating on shares of General Electric in a research report on Wednesday, July 31st. Zacks Investment Research lowered General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research report on Friday. Deutsche Bank set a $10.00 price target on General Electric and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Citigroup set a $14.00 price target on General Electric and gave the stock a “buy” rating in a research report on Wednesday, June 19th. Finally, William Blair reaffirmed a “buy” rating on shares of General Electric in a research report on Thursday, June 13th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $11.68.

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

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