Harel Insurance Investments & Financial Services Ltd. Trims Holdings in General Electric Company (GE)

Harel Insurance Investments & Financial Services Ltd. lessened its position in General Electric Company (NYSE:GE) by 19.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 22,148 shares of the conglomerate’s stock after selling 5,410 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in General Electric were worth $598,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in GE. Harris Associates L P boosted its position in shares of General Electric by 26.4% during the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after buying an additional 9,681,420 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in General Electric by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 29,006,605 shares of the conglomerate’s stock worth $783,469,000 after purchasing an additional 1,357,535 shares during the last quarter. APG Asset Management N.V. boosted its position in General Electric by 0.9% in the second quarter. APG Asset Management N.V. now owns 17,683,409 shares of the conglomerate’s stock worth $477,629,000 after purchasing an additional 159,600 shares during the last quarter. Boston Partners boosted its position in General Electric by 7,892.3% in the second quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock worth $384,315,000 after purchasing an additional 14,050,581 shares during the last quarter. Finally, US Bancorp DE boosted its position in General Electric by 2.2% in the second quarter. US Bancorp DE now owns 11,477,069 shares of the conglomerate’s stock worth $309,996,000 after purchasing an additional 243,034 shares during the last quarter. 54.29% of the stock is owned by hedge funds and other institutional investors.

General Electric Company (GE) opened at $19.02 on Tuesday. General Electric Company has a fifty-two week low of $18.75 and a fifty-two week high of $32.38. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $177,777.73, a PE ratio of 16.53, a PEG ratio of 2.15 and a beta of 1.11.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The firm had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. General Electric’s revenue for the quarter was up 11.5% compared to the same quarter last year. research analysts anticipate that General Electric Company will post 1.06 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend was Friday, September 15th. General Electric’s payout ratio is currently 120.00%.

Several research analysts have weighed in on GE shares. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 price objective on the stock. in a research report on Wednesday, September 13th. UBS AG reissued a “buy” rating and issued a $31.00 price objective (down previously from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Stifel Nicolaus cut their price objective on General Electric from $33.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, July 25th. Citigroup Inc. reissued a “buy” rating and issued a $31.00 price objective (down previously from $34.00) on shares of General Electric in a research report on Monday, July 24th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $31.00 price objective on shares of General Electric in a research report on Friday, September 15th. Six analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $25.55.

In other news, Director James S. Tisch acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was purchased at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.36% of the stock is currently owned by corporate insiders.

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

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