General Electric (NYSE:GE) Shares Sold by Everett Harris & Co. CA

Everett Harris & Co. CA lessened its stake in General Electric (NYSE:GE) by 11.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,958 shares of the conglomerate’s stock after selling 875 shares during the period. Everett Harris & Co. CA’s holdings in General Electric were worth $1,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Studio Investment Management LLC increased 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 acquiring an additional 78 shares during the period. MFA Wealth Advisors LLC purchased a new position in General Electric during the 2nd quarter worth $31,000. Financial Connections Group Inc. acquired a new position in General Electric in the second quarter valued at $32,000. Richardson Financial Services Inc. purchased a new stake in shares of General Electric in the first quarter valued at about $34,000. Finally, Macroview Investment Management LLC boosted its stake in shares of General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

GE stock opened at $192.61 on Friday. The firm has a 50 day moving average of $178.51 and a 200-day moving average of $167.42. The company has a market cap of $210.83 billion, a price-to-earnings ratio of 63.15, a PEG ratio of 1.86 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 $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. The firm 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 revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. As a group, equities analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. General Electric’s payout ratio is 36.72%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GE shares. Sanford C. Bernstein boosted their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada upped their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Jefferies Financial Group lifted their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Wells Fargo & Company upped their price objective on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Barclays lifted their target price 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 research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $196.86.

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.