The FundX Investment Group LLC Continues to Hold Stake in General Electric Co. (GE)

The FundX Investment Group LLC Continues to Hold Stake in General Electric Co. (GE)

FundX Investment Group LLC continued to hold its position in shares of General Electric Co. (NYSE:GE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,666 shares of the company’s stock at the end of the second quarter. General Electric accounts for about 0.1% of FundX Investment Group LLC’s investment portfolio, making the stock its 29th largest position. FundX Investment Group LLC’s holdings in General Electric were worth $588,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GE. Fisher Asset Management LLC raised its position in shares of General Electric by 0.5% in the second quarter. Fisher Asset Management LLC now owns 31,314,984 shares of the company’s stock worth $1,008,656,000 after buying an additional 161,641 shares during the last quarter. Acadian Asset Management LLC raised its stake in General Electric by 291.0% in the second quarter. Acadian Asset Management LLC now owns 4,872,359 shares of the company’s stock valued at $153,380,000 after buying an additional 3,626,125 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in General Electric by 2.7% in the second quarter. Nisa Investment Advisors LLC now owns 3,055,791 shares of the company’s stock valued at $96,194,000 after buying an additional 80,219 shares in the last quarter. Nordea Investment Management AB raised its stake in General Electric by 41.4% in the second quarter. Nordea Investment Management AB now owns 2,490,749 shares of the company’s stock valued at $78,409,000 after buying an additional 729,800 shares in the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its stake in General Electric by 4.8% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 2,380,298 shares of the company’s stock valued at $74,932,000 after buying an additional 108,523 shares in the last quarter. Hedge funds and other institutional investors own 55.81% of the company’s stock.

General Electric Co. (NYSE:GE) traded down 0.07% during midday trading on Wednesday, reaching $28.90. 22,754,503 shares of the company’s stock were exchanged. The company has a market cap of $258.98 billion, a price-to-earnings ratio of 24.43 and a beta of 1.15. General Electric Co. has a 12-month low of $27.10 and a 12-month high of $33.00. The firm has a 50-day moving average price of $30.18 and a 200 day moving average price of $30.73.

General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.05. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The company earned $33.49 million during the quarter, compared to analysts’ expectations of $31.76 billion. During the same quarter in the prior year, the company earned $0.31 EPS. The firm’s revenue was up 14.6% on a year-over-year basis. On average, analysts expect that General Electric Co. will post $1.50 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.18%. General Electric’s dividend payout ratio (DPR) is 77.97%.

Several analysts recently issued reports on the stock. Credit Suisse Group AG reiterated a “buy” rating on shares of General Electric in a research report on Saturday, July 9th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of General Electric in a research report on Tuesday, June 28th. Vetr lowered shares of General Electric from a “buy” rating to a “hold” rating and set a $30.93 price target on the stock. in a research report on Tuesday, June 14th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a research report on Wednesday, June 29th. Finally, Stifel Nicolaus set a $31.00 price target on shares of General Electric and gave the stock a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. General Electric has a consensus rating of “Buy” and a consensus price target of $32.79.

In other General Electric news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was bought at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the purchase, the chairman now owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by insiders.

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