General Electric (NYSE:GE) Stock Holdings Lessened by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lessened its holdings in shares of General Electric (NYSE:GE) by 13.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,556 shares of the conglomerate’s stock after selling 3,005 shares during the period. Frank Rimerman Advisors LLC’s holdings in General Electric were worth $3,688,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GE. Tsfg LLC raised its position in shares of General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares during the period. Macroview Investment Management LLC lifted its stake in 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 buying an additional 58 shares during the last quarter. Strategic Advisors LLC lifted its stake in General Electric by 2.6% in the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after buying an additional 58 shares during the last quarter. Allegheny Financial Group LTD boosted its holdings in shares of General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after acquiring an additional 61 shares during the period. Finally, New England Research & Management Inc. grew its position in shares of General Electric by 2.2% during the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after acquiring an additional 63 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Down 0.4 %

NYSE GE opened at $179.10 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market capitalization of $194.20 billion, a P/E ratio of 31.48, a PEG ratio of 1.74 and a beta of 1.18. General Electric has a 12 month low of $84.58 and a 12 month high of $194.80. The company’s 50 day simple moving average is $179.90 and its 200 day simple moving average is $168.48.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates 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 18.93% and a net margin of 11.48%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 EPS. Equities research analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors 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 is currently 19.68%.

Analyst Ratings Changes

A number of research analysts have issued reports on GE shares. Wells Fargo & Company boosted their target price on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America increased their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group lifted their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank of Canada reduced their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric 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.