Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Grows Stake in General Electric (NYSE:GE)

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Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of General Electric (NYSE:GE) by 24.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,455,991 shares of the conglomerate’s stock after buying an additional 286,095 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in General Electric were worth $15,288,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. FMR LLC increased its holdings in General Electric by 49.4% during the 1st quarter. FMR LLC now owns 450,426,526 shares of the conglomerate’s stock worth $4,499,762,000 after purchasing an additional 148,979,851 shares during the period. Norges Bank purchased a new position in General Electric during the 4th quarter worth $555,184,000. Harris Associates L P increased its holdings in General Electric by 35.1% during the 4th quarter. Harris Associates L P now owns 121,783,710 shares of the conglomerate’s stock worth $921,903,000 after purchasing an additional 31,634,318 shares during the period. Pzena Investment Management LLC increased its holdings in General Electric by 90.0% during the 4th quarter. Pzena Investment Management LLC now owns 63,363,498 shares of the conglomerate’s stock worth $479,662,000 after purchasing an additional 30,017,912 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in General Electric by 7.8% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 99,844,059 shares of the conglomerate’s stock worth $755,819,000 after purchasing an additional 7,194,723 shares during the period. Institutional investors own 58.85% of the company’s stock.

In other news, Chairman H Lawrence Culp, Jr. purchased 331,684 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average price of $9.04 per share, with a total value of $2,998,423.36. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman H Lawrence Culp, Jr. purchased 252,200 shares of the stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $7.93 per share, with a total value of $1,999,946.00. The disclosure for this purchase can be found here. Insiders bought a total of 801,068 shares of company stock valued at $6,954,745 in the last three months. Insiders own 1.13% of the company’s stock.

Shares of General Electric stock traded down $0.13 during trading on Tuesday, reaching $7.92. The company’s stock had a trading volume of 52,725,970 shares, compared to its average volume of 106,094,960. The company has a quick ratio of 1.44, a current ratio of 1.73 and a debt-to-equity ratio of 1.65. The company has a market cap of $69.55 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.72 and a beta of 1.03. General Electric has a 1-year low of $6.66 and a 1-year high of $13.78. The company has a 50-day simple moving average of $9.60 and a two-hundred day simple moving average of $9.87.

General Electric (NYSE:GE) last posted its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.05. The firm had revenue of $28.83 billion during the quarter, compared to analysts’ expectations of $28.83 billion. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 EPS. As a group, analysts anticipate that General Electric will post 0.64 earnings per share for the current year.

GE has been the topic of a number of analyst reports. ValuEngine downgraded General Electric from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Citigroup set a $14.00 price target on General Electric and gave the company a “buy” rating in a report on Friday, August 16th. Zacks Investment Research downgraded General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a report on Friday, August 2nd. JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a report on Wednesday, July 31st. Finally, UBS Group downgraded General Electric from a “buy” rating to a “neutral” rating and cut their price target for the company from $13.00 to $11.50 in a report on Monday, July 15th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $11.68.

General Electric Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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

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