General Electric (NYSE:GE) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC lessened its stake in shares of General Electric (NYSE:GE) by 26.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,518 shares of the conglomerate’s stock after selling 1,935 shares during the quarter. NorthRock Partners LLC’s holdings in General Electric were worth $1,041,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GE. Norden Group LLC acquired a new position in General Electric in the first quarter worth about $234,000. Nordea Investment Management AB increased its stake in General Electric by 0.5% during the first quarter. Nordea Investment Management AB now owns 106,753 shares of the conglomerate’s stock valued at $18,694,000 after purchasing an additional 572 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of General Electric by 2.6% during the first quarter. Whittier Trust Co. now owns 7,866 shares of the conglomerate’s stock worth $1,381,000 after purchasing an additional 199 shares during the period. GSA Capital Partners LLP lifted its position in shares of General Electric by 186.6% in the 1st quarter. GSA Capital Partners LLP now owns 6,082 shares of the conglomerate’s stock worth $1,068,000 after buying an additional 3,960 shares during the last quarter. Finally, Commerce Bank raised its stake in General Electric by 2.4% during the first quarter. Commerce Bank now owns 54,542 shares of the conglomerate’s stock worth $9,574,000 after acquiring an additional 1,301 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE:GE traded up $1.21 on Tuesday, hitting $172.97. The company’s stock had a trading volume of 365,733 shares, compared to its average volume of 6,291,122. General Electric has a one year low of $86.83 and a one year high of $194.80. The firm has a market capitalization of $187.20 billion, a P/E ratio of 30.19, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19. The stock has a fifty day moving average of $180.21 and a two-hundred day moving average of $169.32. 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 (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter last year, the firm earned $0.82 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Research analysts predict that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a dividend of $0.28 per share. 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 19.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Bank of America lifted their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barclays upped their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada decreased their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, UBS Group raised their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

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.