Skba Capital Management LLC Has $10.42 Million Stake in General Electric (GE)

Skba Capital Management LLC grew its holdings in shares of General Electric (NYSE:GE) by 43.3% in the 2nd quarter, Holdings Channel reports. The fund owned 765,400 shares of the conglomerate’s stock after purchasing an additional 231,100 shares during the period. Skba Capital Management LLC’s holdings in General Electric were worth $10,417,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GE. Franklin Resources Inc. increased its position in shares of General Electric by 11.0% during the first quarter. Franklin Resources Inc. now owns 204,957,949 shares of the conglomerate’s stock worth $2,762,834,000 after buying an additional 20,275,020 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of General Electric by 43.9% during the first quarter. The Manufacturers Life Insurance Company now owns 90,257,543 shares of the conglomerate’s stock worth $1,216,672,000 after buying an additional 27,527,425 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of General Electric by 15.2% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 74,590,954 shares of the conglomerate’s stock worth $1,005,486,000 after buying an additional 9,835,343 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of General Electric by 6.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 36,605,388 shares of the conglomerate’s stock worth $498,200,000 after buying an additional 2,172,085 shares during the period. Finally, Swiss National Bank increased its position in shares of General Electric by 3.2% during the second quarter. Swiss National Bank now owns 28,706,161 shares of the conglomerate’s stock worth $390,691,000 after buying an additional 883,200 shares during the period. 53.75% of the stock is owned by hedge funds and other institutional investors.

NYSE:GE opened at $9.29 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.66 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $80.66 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 2.40 and a beta of 0.95. General Electric has a 12 month low of $9.06 and a 12 month high of $20.75.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). The company had revenue of $29.57 billion during the quarter, compared to analyst estimates of $30.08 billion. General Electric had a positive return on equity of 10.29% and a negative net margin of 27.36%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 earnings per share. As a group, research analysts anticipate that General Electric will post 0.7 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Shareholders of record on Monday, September 17th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date of this dividend was Friday, September 14th. General Electric’s payout ratio is 45.71%.

GE has been the subject of several recent analyst reports. Barclays reiterated a “neutral” rating and set a $16.00 price objective on shares of General Electric in a research report on Monday, July 9th. Royal Bank of Canada set a $15.00 price objective on shares of General Electric and gave the stock a “neutral” rating in a research report on Wednesday, July 11th. MED upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $15.00 price objective for the company in a research report on Thursday, July 12th. Deutsche Bank set a $15.00 price objective on shares of General Electric and gave the stock a “hold” rating in a research report on Thursday, July 12th. Finally, JPMorgan Chase & Co. reiterated a “sell” rating and set a $11.00 price objective on shares of General Electric in a research report on Monday, July 16th. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. General Electric presently has an average rating of “Hold” and a consensus target price of $14.94.

General Electric Profile

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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