SteelPeak Wealth LLC Has $317,000 Holdings in General Electric (NYSE:GE)

SteelPeak Wealth LLC lessened its stake in General Electric (NYSE:GE) by 84.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,991 shares of the conglomerate’s stock after selling 11,057 shares during the quarter. SteelPeak Wealth LLC’s holdings in General Electric were worth $317,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. USA Financial Formulas increased its position in General Electric by 24,042.9% during 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. Grandfield & Dodd LLC grew its holdings in shares of General Electric by 9.3% during the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock worth $34,432,000 after purchasing an additional 22,998 shares in the last quarter. Rathbones Group PLC grew its holdings in shares of General Electric by 2.7% during 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 grew its holdings in shares of General Electric by 8.2% during 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. Finally, Vanguard Group Inc. grew its holdings in shares of General Electric by 0.6% during 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. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.1 %

GE stock traded down $0.13 on Friday, reaching $169.81. 218,438 shares of the company traded hands, compared to its average volume of 6,916,379. General Electric has a one year low of $84.42 and a one year high of $177.20. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The company has a market cap of $185.88 billion, a P/E ratio of 55.71, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21. The firm has a fifty day simple moving average of $163.09 and a 200-day simple moving average of $159.86.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Research analysts anticipate that General Electric will post 4.15 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.66%. General Electric’s dividend payout ratio is 36.72%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. UBS Group raised their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. lifted their target price on General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Finally, Bank of America lifted their target price on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.38.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

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.