Bailard Inc. decreases stake in General Electric (NYSE:GE)

VaselineAugust 28, 2024

0 3 minutes read

Bailard Inc. cut its stake in shares of General Electric (NYSE:GE – Free Report ) by 81.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,529 shares of the conglomerate’s stock after selling 6,640 shares during the quarter. The holdings of Bailard Inc. holdings in General Electric were worth $243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. MFA Wealth Advisors LLC bought a new position in General Electric in the second quarter valued at approximately $31,000. Kapitalo Investimentos Ltda purchased a new position in shares of General Electric in the fourth quarter valued at about $32,000. Richardson Financial Services Inc. bought a new position in shares of General Electric in the first quarter valued at approximately $34,000. Macroview Investment Management LLC boosted its holdings in shares of General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in General Electric in the 1st quarter valued at $37,000. Institutional investors own 74.77% of the company’s shares.

The Wall Street analyst weighs in

A number of research analysts have issued reports on the stock. Barclays boosted their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company boosted their price objective on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. UBS Group lifted their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Finally, Jefferies Financial Group upped their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Moderate Buy” and an average price target of $190.38, according to MarketBeat.com.

Want more great investment ideas?

Check out our latest analysis of GE

General Electric price performance

GE stock opened at $170.99 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85, and a current ratio of 1.14. The firm has a market cap of $187.17 billion, a price-to-earnings ratio of 56.06, a PEG ratio of 1.70 and a beta of 1.21. The firm has a 50-day moving average price of $164.55 and a 200-day moving average price of $161.91. General Electric has a 52-week low of $84.42 and a 52-week high of $177.20.

General Electric (NYSE:GE – Get Free Report ) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s revenue rose 3.9% year-over-year. In the same period last year, the company earned $0.68 per share. equities research analysts forecast that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Dividend Announcement

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

General Electric profile

(Free Report)

General Electric Company, doing business as GE Aerospace, designs and manufactures commercial and defense aircraft engines, integrated engine components, electrical power and aircraft mechanical systems. They also offer aftermarket services to support their products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East and Africa.