Great Lakes Advisors LLC Sells 35,282 Shares of General Electric (NYSE:GE)

Great Lakes Advisors LLC lowered its position in General Electric (NYSE:GE - Free Report) by 14.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 206,218 shares of the conglomerate's stock after selling 35,282 shares during the period. Great Lakes Advisors LLC's holdings in General Electric were worth $32,783,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. USA Financial Formulas boosted its holdings in General Electric by 24,042.9% in the 4th quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate's stock worth $1,294,000 after buying an additional 10,098 shares during the period. Rathbones Group PLC lifted its stake in General Electric by 2.7% in the 4th quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate's stock worth $28,821,000 after purchasing an additional 5,997 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in General Electric by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate's stock worth $534,123,000 after purchasing an additional 318,245 shares in the last quarter. Vanguard Group Inc. lifted its stake in General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate's stock worth $11,288,136,000 after purchasing an additional 550,996 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in General Electric by 3.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 288,224 shares of the conglomerate's stock worth $36,786,000 after purchasing an additional 8,788 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

General Electric Trading Down 1.6 %

NYSE:GE traded down $2.62 during mid-day trading on Friday, hitting $161.23. 3,954,854 shares of the stock traded hands, compared to its average volume of 6,700,422. The stock has a market capitalization of $176.48 billion, a price-to-earnings ratio of 52.86, a PEG ratio of 1.73 and a beta of 1.18. General Electric has a 52 week low of $84.42 and a 52 week high of $177.20. The firm's 50 day moving average is $165.78 and its two-hundred day moving average is $163.28. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm's revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS. On average, equities research analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a $0.28 dividend. The ex-dividend date was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. General Electric's dividend payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

Several analysts have commented on GE shares. Royal Bank of Canada boosted their price target on shares of General Electric from $175.00 to $190.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 24th. Barclays boosted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of General Electric from $148.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 13th. Deutsche Bank Aktiengesellschaft upped their target price 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. Finally, Jefferies Financial Group upped their target price on shares of General Electric from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $190.38.

General Electric 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.