First Financial Bankshares Inc Sells 384 Shares of General Electric (NYSE:GE)

First Financial Bankshares Inc reduced its stake in shares of General Electric (NYSE:GE) by 25.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,107 shares of the conglomerate’s stock after selling 384 shares during the quarter. First Financial Bankshares Inc’s holdings in General Electric were worth $209,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Studio Investment Management LLC grew its position in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the period. Toth Financial Advisory Corp bought a new position in General Electric during the third quarter worth $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric during the third quarter worth $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric in the second quarter valued at about $31,000. Finally, Financial Connections Group Inc. purchased a new stake in General Electric during the second quarter worth about $32,000. 74.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Sanford C. Bernstein lifted their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. UBS Group upped their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reduced their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Barclays increased their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Melius Research increased their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Price Performance

NYSE:GE opened at $179.10 on Monday. The firm’s fifty day moving average price is $179.90 and its two-hundred day moving average price is $168.56. The company has a market cap of $194.20 billion, a P/E ratio of 31.48, a P/E/G ratio of 1.74 and a beta of 1.18. General Electric has a one year low of $84.58 and a one year high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the prior year, the business earned $0.82 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

About General Electric

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.