Mathes Company Inc. Decreases Position in General Electric (NYSE:GE)

Mathes Company Inc. lowered its position in General Electric (NYSE:GE) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,701 shares of the conglomerate’s stock after selling 272 shares during the quarter. General Electric accounts for approximately 2.0% of Mathes Company Inc.’s holdings, making the stock its 15th biggest holding. Mathes Company Inc.’s holdings in General Electric were worth $5,516,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Macroview Investment Management LLC boosted its holdings in General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 58 shares during the last quarter. Allegheny Financial Group LTD increased its position in General Electric by 1.4% during the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after purchasing an additional 61 shares in the last quarter. New England Research & Management Inc. raised its holdings in General Electric by 2.2% in the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after buying an additional 63 shares during the period. Argent Trust Co lifted its position in General Electric by 0.6% during the second quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock valued at $1,707,000 after buying an additional 64 shares in the last quarter. Finally, Choate Investment Advisors grew its stake in General Electric by 0.4% during the first quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock worth $2,808,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

General Electric stock opened at $183.54 on Thursday. The company has a market cap of $200.90 billion, a PE ratio of 60.18, a P/E/G ratio of 1.65 and a beta of 1.18. General Electric has a 12 month low of $84.42 and a 12 month high of $185.77. The company has a fifty day moving average price of $167.63 and a two-hundred day moving average price of $170.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the business posted $0.68 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. Research analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The business 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 dividend of $0.28 per share. 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 0.61%. General Electric’s payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GE shares. Sanford C. Bernstein began coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. 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 report on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Barclays upped their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $191.14.

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.