ClariVest Asset Management LLC Sells 290 Shares of General Electric (NYSE:GE)

ClariVest Asset Management LLC trimmed its stake in shares of General Electric (NYSE:GE) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,270 shares of the conglomerate’s stock after selling 290 shares during the period. ClariVest Asset Management LLC’s holdings in General Electric were worth $3,063,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GE. Rathbones Group PLC boosted its holdings in shares of General Electric by 2.7% in the fourth quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock valued at $28,821,000 after buying an additional 5,997 shares during the period. Vanguard Group Inc. increased its position in shares of General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after acquiring an additional 550,996 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in General Electric by 3.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 288,224 shares of the conglomerate’s stock worth $36,786,000 after acquiring an additional 8,788 shares in the last quarter. GAMMA Investing LLC lifted its stake in General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after acquiring an additional 3,442 shares during the last quarter. Finally, Makena Capital Management LLC increased its position in General Electric by 26.2% during the fourth quarter. Makena Capital Management LLC now owns 149,855 shares of the conglomerate’s stock worth $19,126,000 after buying an additional 31,107 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Up 1.0 %

Shares of General Electric stock opened at $166.96 on Wednesday. The stock’s 50-day moving average is $166.02 and its 200 day moving average is $163.58. The firm has a market cap of $182.76 billion, a price-to-earnings ratio of 54.74, a PEG ratio of 1.60 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. General Electric has a one year low of $84.42 and a one year high of $177.20.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. General Electric’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities research analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GE shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Sanford C. Bernstein began coverage on shares of General Electric in a research report on Tuesday. They set an “outperform” rating and a $201.00 price objective for the company. Royal Bank of Canada raised their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Jefferies Financial Group raised their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.14.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.