General Electric (NYSE:GE) Stock Holdings Reduced by Cigna Investments Inc. New

Cigna Investments Inc. New cut its position in shares of General Electric (NYSE:GE) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,236 shares of the conglomerate’s stock after selling 164 shares during the period. Cigna Investments Inc. New’s holdings in General Electric were worth $2,119,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mackenzie Financial Corp lifted its stake in General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after acquiring an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC bought a new position in shares of General Electric during the 2nd quarter valued at $1,569,000. GAMMA Investing LLC lifted its stake in shares of General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after purchasing an additional 3,442 shares during the last quarter. Senator Investment Group LP acquired a new position in General Electric during the second quarter worth $34,973,000. Finally, Blair William & Co. IL increased its position in General Electric by 4.4% during the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock worth $28,928,000 after buying an additional 7,670 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Price Performance

Shares of NYSE:GE opened at $171.75 on Friday. The firm has a market capitalization of $185.88 billion, a PE ratio of 30.18, a PEG ratio of 1.72 and a beta of 1.18. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1-year low of $84.66 and a 1-year high of $194.80. The business’s 50 day moving average is $180.18 and its 200-day moving average is $168.89.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.82 earnings per share. Sell-side analysts predict that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. General Electric’s dividend payout ratio is currently 19.68%.

Analyst Upgrades and Downgrades

GE has been the subject of several recent analyst reports. Wells Fargo & Company upped their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Citigroup upped their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Bank of America upped their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, UBS Group lifted their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $200.93.

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.