Sachetta LLC Cuts Stock Position in General Electric (NYSE:GE)

Sachetta LLC lowered its holdings in General Electric (NYSE:GE) by 48.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 673 shares of the conglomerate’s stock after selling 632 shares during the period. Sachetta LLC’s holdings in General Electric were worth $113,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MFA Wealth Advisors LLC purchased a new position in General Electric in the second quarter worth $31,000. Kapitalo Investimentos Ltda bought a new stake in shares of General Electric in the fourth quarter valued at $32,000. Financial Connections Group Inc. bought a new stake in shares of General Electric in the second quarter valued at $32,000. Richardson Financial Services Inc. bought a new stake in shares of General Electric in the first quarter valued at $34,000. Finally, Macroview Investment Management LLC raised 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 valued at $34,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

General Electric stock opened at $166.96 on Wednesday. General Electric has a 52 week low of $84.42 and a 52 week high of $177.20. The business has a 50-day simple moving average of $166.02 and a 200 day simple moving average of $163.58. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The stock has a market cap of $182.76 billion, a price-to-earnings ratio of 54.74, a PEG ratio of 1.60 and a beta of 1.18.

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

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is currently 36.72%.

Analyst Ratings Changes

Several analysts have issued reports on GE shares. Wells Fargo & Company boosted their target price on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada boosted their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Barclays boosted their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein assumed coverage on General Electric in a research note on Tuesday. They set an “outperform” rating and a $201.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.14.

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.