General Electric (GE) Shares Bought by Brave Asset Management Inc.

Brave Asset Management Inc. lifted its holdings in General Electric (NYSE:GE) by 57.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,546 shares of the conglomerate’s stock after acquiring an additional 23,500 shares during the period. Brave Asset Management Inc.’s holdings in General Electric were worth $878,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its position in General Electric by 1.5% in the 4th quarter. BlackRock Inc. now owns 531,732,530 shares of the conglomerate’s stock valued at $9,278,731,000 after buying an additional 7,675,642 shares in the last quarter. Franklin Resources Inc. increased its position in General Electric by 11.0% in the 1st quarter. Franklin Resources Inc. now owns 204,957,949 shares of the conglomerate’s stock valued at $2,762,834,000 after buying an additional 20,275,020 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in General Electric by 43.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 90,257,543 shares of the conglomerate’s stock valued at $1,216,672,000 after buying an additional 27,527,425 shares in the last quarter. Bank of New York Mellon Corp increased its position in General Electric by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 82,038,488 shares of the conglomerate’s stock valued at $1,431,571,000 after buying an additional 1,193,233 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in General Electric by 15.2% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 74,590,954 shares of the conglomerate’s stock valued at $1,005,486,000 after buying an additional 9,835,343 shares in the last quarter. 53.74% of the stock is owned by hedge funds and other institutional investors.

In other General Electric news, Director H Lawrence Culp, Jr. bought 191,000 shares of the business’s stock in a transaction dated Tuesday, July 24th. The shares were purchased at an average price of $13.04 per share, for a total transaction of $2,490,640.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.12% of the stock is owned by insiders.

GE has been the subject of a number of research analyst reports. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $14.00 target price on shares of General Electric in a research report on Tuesday, May 22nd. JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a $11.00 target price on shares of General Electric in a research report on Tuesday, May 22nd. Citigroup reaffirmed a “buy” rating on shares of General Electric in a research report on Tuesday, May 22nd. UBS Group set a $16.00 target price on General Electric and gave the company a “hold” rating in a research report on Friday, June 1st. Finally, Royal Bank of Canada reaffirmed a “neutral” rating and issued a $15.00 target price on shares of General Electric in a research report on Wednesday, June 20th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $16.99.

Shares of NYSE GE opened at $12.68 on Friday. General Electric has a twelve month low of $11.94 and a twelve month high of $25.21. The company has a market capitalization of $109.49 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 2.39 and a beta of 0.96. The company has a current ratio of 1.81, a quick ratio of 1.51 and a debt-to-equity ratio of 1.39.

General Electric (NYSE:GE) last announced its earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. General Electric had a positive return on equity of 10.40% and a negative net margin of 6.59%. The firm had revenue of $30.10 billion for the quarter, compared to the consensus estimate of $29.39 billion. During the same quarter in the previous year, the business earned $0.21 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. analysts forecast that General Electric will post 0.96 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Stockholders of record on Monday, September 17th will be paid a $0.12 dividend. The ex-dividend date is Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.79%. General Electric’s payout ratio is presently 45.71%.

About General Electric

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

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

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