Los Angeles Capital Management LLC Sells 274 Shares of General Electric (NYSE:GE)

Los Angeles Capital Management LLC lowered its stake in General Electric (NYSE:GEGet Rating) by 4.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,528 shares of the conglomerate’s stock after selling 274 shares during the quarter. Los Angeles Capital Management LLC’s holdings in General Electric were worth $522,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of GE. Morgan Stanley lifted its stake in shares of General Electric by 5.7% during the 2nd quarter. Morgan Stanley now owns 41,344,433 shares of the conglomerate’s stock valued at $556,497,000 after buying an additional 2,238,808 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of General Electric by 6.2% in the fourth quarter. New York State Common Retirement Fund now owns 3,780,632 shares of the conglomerate’s stock valued at $357,156,000 after acquiring an additional 219,321 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of General Electric by 10.3% in the third quarter. Renaissance Technologies LLC now owns 2,419,757 shares of the conglomerate’s stock worth $249,308,000 after acquiring an additional 226,883 shares during the period. National Pension Service purchased a new stake in shares of General Electric during the third quarter worth about $149,257,000. Finally, TD Asset Management Inc. bought a new stake in General Electric during the 3rd quarter valued at approximately $77,904,000. 70.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of General Electric stock opened at $89.07 on Friday. The stock has a market cap of $97.92 billion, a price-to-earnings ratio of -14.30, a price-to-earnings-growth ratio of 4.09 and a beta of 0.96. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.97 and a current ratio of 1.28. The stock has a 50 day moving average price of $92.69 and a 200-day moving average price of $97.31. General Electric has a one year low of $85.29 and a one year high of $116.17.

General Electric (NYSE:GEGet Rating) last issued its quarterly earnings results on Tuesday, January 25th. The conglomerate reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. General Electric had a positive return on equity of 6.62% and a negative net margin of 8.80%. The company had revenue of $20.30 billion during the quarter, compared to the consensus estimate of $21.32 billion. During the same period last year, the company earned $0.64 earnings per share. General Electric’s revenue was down 7.4% on a year-over-year basis. Sell-side analysts predict that General Electric will post 3.17 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 25th. Investors of record on Tuesday, March 8th will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, March 7th. This represents a $0.32 annualized dividend and a yield of 0.36%. General Electric’s payout ratio is -5.14%.

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased their price objective on shares of General Electric from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Friday, March 11th. Credit Suisse Group dropped their target price on shares of General Electric from $122.00 to $116.00 and set an “outperform” rating for the company in a research report on Monday, March 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Electric from $107.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, April 14th. Morgan Stanley dropped their price objective on shares of General Electric from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Tuesday, February 1st. Finally, Zacks Investment Research raised General Electric from a “sell” rating to a “hold” rating and set a $94.00 target price on the stock in a report on Monday, March 7th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $120.20.

General Electric Profile (Get Rating)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

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

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