MAI Capital Management lessened its holdings in General Electric (NYSE:GE – Free Report) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,540 shares of the conglomerate’s stock after selling 3,117 shares during the quarter. MAI Capital Management’s holdings in General Electric were worth $19,148,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Toth Financial Advisory Corp acquired a new stake in shares of General Electric during the 3rd quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric during the third quarter worth approximately $27,000. Peterson Financial Group Inc. purchased a new stake in shares of General Electric during the 3rd quarter worth approximately $28,000. Finally, Studio Investment Management LLC boosted its holdings 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 buying an additional 78 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on GE. Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada reduced 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, October 23rd. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company lifted their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.
General Electric Stock Down 0.8 %
Shares of General Electric stock opened at $176.93 on Monday. The company has a market cap of $191.49 billion, a P/E ratio of 31.09, a PEG ratio of 1.75 and a beta of 1.19. The firm has a fifty day moving average of $182.29 and a two-hundred day moving average of $170.71. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a one year low of $93.05 and a one year high of $194.80.
General Electric (NYSE:GE – Get Free Report) 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 firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 earnings per share. On average, analysts forecast that General Electric will post 4.22 earnings per share for the current year.
General Electric Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is 19.68%.
Insider Buying and Selling at General Electric
In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by corporate insiders.
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.
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