Dimensional Fund Advisors LP Trims Stake in General Electric (NYSE:GE)

Dimensional Fund Advisors LP reduced its holdings in shares of General Electric (NYSE:GE) by 34.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,563,602 shares of the conglomerate’s stock after selling 1,365,056 shares during the period. Dimensional Fund Advisors LP owned about 0.23% of General Electric worth $407,556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Studio Investment Management LLC increased its holdings in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC purchased a new stake in General Electric during the second quarter valued at approximately $31,000. Richardson Financial Services Inc. purchased a new stake in General Electric during the first quarter valued at approximately $34,000. Financial Connections Group Inc. bought a new position in shares of General Electric in the second quarter worth approximately $32,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in shares of General Electric in the first quarter worth approximately $37,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GE has been the subject of a number of recent analyst reports. Sanford C. Bernstein initiated coverage on shares of General Electric in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price target for the company. Barclays upped their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada upped their price target on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Jefferies Financial Group upped their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, UBS Group upped their price target on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $191.14.

General Electric Price Performance

General Electric stock opened at $181.46 on Tuesday. The company has a market cap of $198.63 billion, a price-to-earnings ratio of 59.50, a PEG ratio of 1.65 and a beta of 1.18. The firm’s fifty day moving average is $166.93 and its 200 day moving average is $171.00. 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 has a 52-week low of $84.42 and a 52-week high of $181.52.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. 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 firm posted $0.68 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

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.