MCF Advisors LLC Cuts Stock Holdings in General Electric (NYSE:GE)

MCF Advisors LLC lessened its position in General Electric (NYSE:GE) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,981 shares of the conglomerate’s stock after selling 183 shares during the quarter. MCF Advisors LLC’s holdings in General Electric were worth $374,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Mackenzie Financial Corp boosted its stake in General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after purchasing an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC purchased a new stake in General Electric during the 2nd quarter valued at about $1,569,000. GAMMA Investing LLC raised its holdings in General Electric by 25.4% in the 2nd 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 last quarter. Senator Investment Group LP purchased a new position in General Electric in the 2nd quarter worth approximately $34,973,000. Finally, Blair William & Co. IL lifted its stake in General Electric by 4.4% in the 2nd quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock worth $28,928,000 after purchasing an additional 7,670 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GE has been the subject of a number of analyst reports. Barclays upped their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada dropped their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday. Melius Research lifted their price target on General Electric from $194.00 to $202.00 in a report on Tuesday. Citigroup upped their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Trading Down 0.4 %

Shares of NYSE GE traded down $0.64 during trading on Friday, reaching $179.10. The stock had a trading volume of 3,974,941 shares, compared to its average volume of 6,367,015. 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 company has a market cap of $196.04 billion, a P/E ratio of 58.74, a PEG ratio of 1.86 and a beta of 1.18. General Electric has a fifty-two week low of $84.58 and a fifty-two week high of $194.80. The business’s 50-day moving average price is $179.90 and its 200-day moving average price is $168.38.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS. On average, equities research analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.63%. General Electric’s dividend payout ratio is presently 36.72%.

General Electric Company 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.