Sivia Capital Partners LLC Decreases Stake in General Electric (NYSE:GE)

Sivia Capital Partners LLC decreased its holdings in General Electric (NYSE:GE) by 8.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 2,383 shares of the conglomerate’s stock after selling 222 shares during the period. Sivia Capital Partners LLC’s holdings in General Electric were worth $379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake 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 buying an additional 550,996 shares in the last quarter. Capital International Investors boosted its holdings in General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after acquiring an additional 5,309,543 shares during the period. Capital World Investors grew its position in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares in the last quarter. Norges Bank purchased a new stake in shares of General Electric during the fourth quarter valued at approximately $1,193,159,000. Finally, Canada Pension Plan Investment Board lifted its position in shares of General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

GE stock opened at $161.27 on Friday. The company has a market capitalization of $176.53 billion, a P/E ratio of 52.88, a PEG ratio of 1.73 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The company has a 50-day simple moving average of $165.78 and a 200 day simple moving average of $163.18. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $177.20.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping 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 firm had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the prior year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio is presently 36.72%.

Wall Street Analyst Weigh In

Several research firms recently commented on GE. UBS Group boosted their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Royal Bank of Canada raised 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. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. JPMorgan Chase & Co. raised their price objective on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Finally, StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.38.

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.