Hsbc Holdings PLC Decreases Holdings in General Electric (NYSE:GE)

Hsbc Holdings PLC lowered its position in General Electric (NYSE:GE) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,410,846 shares of the conglomerate’s stock after selling 39,447 shares during the quarter. Hsbc Holdings PLC owned approximately 0.22% of General Electric worth $383,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Rathbones Group PLC raised its position 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 during the period. Vanguard Group Inc. boosted its position in General Electric by 0.6% during the 4th 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 during the period. Nomura Asset Management Co. Ltd. grew its holdings 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 acquiring an additional 8,788 shares during the last quarter. GAMMA Investing LLC increased its position in shares of General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after acquiring an additional 3,442 shares during the period. Finally, Makena Capital Management LLC raised its stake in shares of General Electric by 26.2% during the fourth quarter. Makena Capital Management LLC now owns 149,855 shares of the conglomerate’s stock valued at $19,126,000 after acquiring an additional 31,107 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Down 0.6 %

Shares of General Electric stock opened at $180.32 on Wednesday. The company has a market cap of $197.38 billion, a price-to-earnings ratio of 59.12, a price-to-earnings-growth ratio of 1.65 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’s 50 day moving average is $167.28 and its 200 day moving average is $170.87. General Electric has a twelve month low of $84.42 and a twelve month high of $182.43.

General Electric (NYSE:GE) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the company earned $0.68 earnings per share. General Electric’s revenue was up 3.9% on a year-over-year basis. Research analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. UBS Group upped their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Jefferies Financial Group upped their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Barclays lifted their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $191.14.

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.