Wedbush Securities Inc. Sells 6,458 Shares of General Electric (NYSE:GE)

Wedbush Securities Inc. lowered its stake in General Electric (NYSE:GE) by 27.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,741 shares of the conglomerate’s stock after selling 6,458 shares during the quarter. Wedbush Securities Inc.’s holdings in General Electric were worth $2,661,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aveo Capital Partners LLC bought a new stake in General Electric during the 4th quarter valued at approximately $203,000. Gryphon Financial Partners LLC grew its position in shares of General Electric by 57.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock valued at $1,526,000 after purchasing an additional 4,354 shares in the last quarter. Principal Securities Inc. bought a new stake in General Electric in the 4th quarter worth approximately $441,000. Cary Street Partners Investment Advisory LLC raised its stake in General Electric by 7.7% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 3,145 shares of the conglomerate’s stock valued at $401,000 after purchasing an additional 226 shares in the last quarter. Finally, AGF Management Ltd. lifted its holdings in shares of General Electric by 377.2% in the 4th quarter. AGF Management Ltd. now owns 35,203 shares of the conglomerate’s stock valued at $4,493,000 after acquiring an additional 27,826 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company boosted their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. UBS Group raised their target price on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Barclays boosted their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lifted their target price on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus price target of $190.38.

General Electric Stock Performance

GE opened at $165.35 on Tuesday. The firm has a 50 day moving average of $165.91 and a two-hundred day moving average of $163.48. The firm has a market capitalization of $180.99 billion, a PE ratio of 54.21, a P/E/G ratio of 1.60 and a beta of 1.18. The company has a current ratio of 1.14, a quick ratio of 0.85 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.

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

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio is presently 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.