Sargent Investment Group LLC Cuts Holdings in General Electric (NYSE:GE)

Sargent Investment Group LLC lessened its position in shares of General Electric (NYSE:GE) by 5.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,466 shares of the conglomerate’s stock after selling 907 shares during the period. Sargent Investment Group LLC’s holdings in General Electric were worth $2,459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GE. Capital World Investors raised its position in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Capital International Investors raised its holdings in shares of General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board boosted its holdings in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after acquiring an additional 4,907,530 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in General Electric in the second quarter valued at approximately $580,200,000. Finally, Evergreen Quality Fund GP Ltd. purchased a new stake in shares of General Electric during the first quarter valued at approximately $385,745,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of NYSE GE opened at $181.46 on Tuesday. General Electric has a 12-month low of $84.42 and a 12-month high of $181.52. The company has a market cap of $198.63 billion, a PE ratio of 59.50, a P/E/G ratio of 1.65 and a beta of 1.18. The stock has a 50 day simple moving average of $166.93 and a 200-day simple moving average of $171.00. 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 (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. On average, equities research analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Analysts Set New Price Targets

GE has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. UBS Group raised their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Royal Bank of Canada upped their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Jefferies Financial Group raised their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Barclays upped their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. 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 company has an average rating of “Moderate Buy” and an average target price of $191.14.

General Electric 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.