Fjarde AP Fonden Fourth Swedish National Pension Fund Has $52.99 Million Position in General Electric Company (NYSE:GE)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in shares of General Electric Company (NYSE:GE) by 7.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,778,168 shares of the conglomerate’s stock after selling 146,431 shares during the period. General Electric makes up about 1.3% of Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings, making the stock its 9th largest position. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in General Electric were worth $52,989,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GE. Trexquant Investment LP purchased a new position in shares of General Electric during the first quarter worth approximately $1,171,000. Independence Trust CO boosted its position in shares of General Electric by 12.3% in the first quarter. Independence Trust CO now owns 90,467 shares of the conglomerate’s stock worth $2,695,000 after buying an additional 9,890 shares during the last quarter. Windsor Financial Group LLC boosted its position in shares of General Electric by 497.6% in the first quarter. Windsor Financial Group LLC now owns 156,454 shares of the conglomerate’s stock worth $4,662,000 after buying an additional 130,275 shares during the last quarter. Smith Moore & CO. boosted its position in shares of General Electric by 12.1% in the first quarter. Smith Moore & CO. now owns 62,372 shares of the conglomerate’s stock worth $1,859,000 after buying an additional 6,741 shares during the last quarter. Finally, United Bank boosted its position in shares of General Electric by 5.7% in the first quarter. United Bank now owns 73,853 shares of the conglomerate’s stock worth $2,201,000 after buying an additional 3,953 shares during the last quarter. Institutional investors own 54.29% of the company’s stock.

General Electric Company (GE) opened at 25.78 on Monday. The company has a market cap of $223.20 billion, a PE ratio of 31.40 and a beta of 1.21. The stock’s 50 day moving average is $26.94 and its 200-day moving average is $28.78. General Electric Company has a 52-week low of $25.26 and a 52-week high of $32.38.

General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company had revenue of $29.56 billion for the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. General Electric’s quarterly revenue was down 11.8% on a year-over-year basis. Equities research analysts predict that General Electric Company will post $1.57 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s dividend payout ratio is currently 118.52%.

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A number of brokerages have recently commented on GE. Cowen and Company reiterated a “hold” rating and issued a $24.00 price target on shares of General Electric in a research note on Monday. UBS AG reiterated a “buy” rating and issued a $31.00 price target (down from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Stifel Nicolaus dropped their price target on General Electric from $33.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, July 25th. Citigroup Inc. reiterated a “buy” rating and issued a $31.00 price target (down from $34.00) on shares of General Electric in a research note on Monday, July 24th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $26.00 price target (down from $27.00) on shares of General Electric in a research note on Monday, July 24th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. General Electric presently has an average rating of “Hold” and a consensus price target of $30.08.

In related news, insider Alexander Dimitrief purchased 1,845 shares of General Electric stock in a transaction that occurred on Monday, July 24th. The shares were bought at an average price of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the transaction, the insider now directly owns 65,597 shares of the company’s stock, valued at $1,675,347.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William G. Beattie purchased 16,000 shares of General Electric stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average price of $28.05 per share, for a total transaction of $448,800.00. The disclosure for this purchase can be found here. Insiders have purchased 149,270 shares of company stock worth $4,113,059 in the last quarter. 0.36% of the stock is owned by corporate insiders.

General Electric Company Profile

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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