General Electric (NYSE:GE) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC reduced its holdings in General Electric (NYSE:GE) by 14.6% during the 2nd quarter, Holdings Channel reports. The firm owned 206,218 shares of the conglomerate’s stock after selling 35,282 shares during the quarter. Great Lakes Advisors LLC’s holdings in General Electric were worth $32,783,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GE. MFA Wealth Advisors LLC purchased a new stake in General Electric in the 2nd quarter worth $31,000. Richardson Financial Services Inc. acquired a new stake in General Electric in the 1st quarter worth about $34,000. Financial Connections Group Inc. purchased a new stake in General Electric during the 2nd quarter worth approximately $32,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of General Electric in the first quarter valued at approximately $37,000. Finally, Macroview Investment Management LLC boosted its stake in shares of General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on GE shares. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Barclays boosted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. increased their price objective on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Jefferies Financial Group boosted their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, UBS Group increased their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $190.38.

General Electric Trading Down 1.6 %

GE stock traded down $2.62 during mid-day trading on Friday, hitting $161.23. 3,954,854 shares of the company were exchanged, compared to its average volume of 6,700,422. The business has a fifty day simple moving average of $165.78 and a 200-day simple moving average of $163.18. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a 12-month low of $84.42 and a 12-month high of $177.20. The firm has a market capitalization of $176.48 billion, a P/E ratio of 52.88, a PEG ratio of 1.73 and a beta of 1.18.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the company earned $0.68 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio is currently 36.72%.

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.