General Electric (NYSE:GE) Stock Position Lowered by Capital Investment Counsel Inc

Capital Investment Counsel Inc cut its stake in shares of General Electric (NYSE:GE) by 7.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,444 shares of the conglomerate’s stock after selling 259 shares during the period. Capital Investment Counsel Inc’s holdings in General Electric were worth $649,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GE. Wellington Management Group LLP raised its position in shares of General Electric by 1.6% during the fourth quarter. Wellington Management Group LLP now owns 133,618 shares of the conglomerate’s stock worth $17,054,000 after purchasing an additional 2,055 shares during the period. Brookstone Capital Management raised its position in shares of General Electric by 14.4% during the first quarter. Brookstone Capital Management now owns 21,347 shares of the conglomerate’s stock worth $3,747,000 after purchasing an additional 2,682 shares during the period. Sovereign Financial Group Inc. raised its position in shares of General Electric by 74.9% during the first quarter. Sovereign Financial Group Inc. now owns 2,934 shares of the conglomerate’s stock worth $515,000 after purchasing an additional 1,256 shares during the period. Wealthcare Advisory Partners LLC raised its position in shares of General Electric by 6.6% during the first quarter. Wealthcare Advisory Partners LLC now owns 9,377 shares of the conglomerate’s stock worth $1,646,000 after purchasing an additional 579 shares during the period. Finally, Investment Partners LTD. acquired a new stake in shares of General Electric during the first quarter worth $257,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

GE opened at $181.78 on Thursday. The company has a market cap of $198.98 billion, a PE ratio of 59.60, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The stock has a 50-day moving average of $179.51 and a 200-day moving average of $168.15. General Electric has a 52-week low of $84.58 and a 52-week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 EPS. As a group, equities research analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. The ex-dividend date 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 presently 36.72%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GE. Bank of America boosted their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada lowered their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday. UBS Group lifted their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Jefferies Financial Group lifted their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Two investment 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 has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Company 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.