abrdn plc Sells 4,178 Shares of General Electric (NYSE:GE)

abrdn plc lessened its position in shares of General Electric (NYSE:GE) by 0.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 579,214 shares of the conglomerate’s stock after selling 4,178 shares during the period. abrdn plc’s holdings in General Electric were worth $107,380,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Toth Financial Advisory Corp purchased a new stake in shares of General Electric in the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric during the third quarter worth $27,000. Studio Investment Management LLC raised its position in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the period. MFA Wealth Advisors LLC acquired a new position in General Electric during the second quarter worth $31,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of General Electric in the first quarter valued at about $34,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

GE opened at $175.30 on Tuesday. The stock has a market cap of $190.08 billion, a PE ratio of 30.81, a P/E/G ratio of 1.74 and a beta of 1.18. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1 year low of $84.66 and a 1 year high of $194.80. The stock’s 50 day simple moving average is $179.99 and its 200-day simple moving average is $168.69.

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

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Bank of America raised their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. 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 report on Monday, October 14th. UBS Group lifted their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada dropped their price objective 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. Finally, Citigroup boosted their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $200.93.

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.