General Electric (NYSE:GE) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its position in General Electric (NYSE:GE) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,462 shares of the conglomerate’s stock after selling 111 shares during the period. King Luther Capital Management Corp’s holdings in General Electric were worth $6,909,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aveo Capital Partners LLC purchased a new position in General Electric in the fourth quarter valued at $203,000. Gryphon Financial Partners LLC raised its holdings in General Electric by 57.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock worth $1,526,000 after purchasing an additional 4,354 shares during the period. CreativeOne Wealth LLC boosted its position in General Electric by 13.8% during the fourth quarter. CreativeOne Wealth LLC now owns 3,975 shares of the conglomerate’s stock worth $507,000 after purchasing an additional 482 shares in the last quarter. Franklin Resources Inc. grew its holdings in General Electric by 13.7% in the fourth quarter. Franklin Resources Inc. now owns 602,100 shares of the conglomerate’s stock valued at $76,846,000 after purchasing an additional 72,325 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of General Electric by 27.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 177,912 shares of the conglomerate’s stock valued at $22,707,000 after buying an additional 38,784 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

General Electric stock opened at $187.39 on Friday. 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 has a 12 month low of $84.42 and a 12 month high of $187.99. The company has a market cap of $205.12 billion, a price-to-earnings ratio of 61.44, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The stock’s 50-day moving average is $168.69 and its 200-day moving average is $170.96.

General Electric (NYSE:GE) last announced its 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. The business had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. Equities analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The company also recently declared 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 is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Royal Bank of Canada boosted their target price on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Sanford C. Bernstein started coverage on General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective for the company. Barclays raised their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group boosted their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, UBS Group raised their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $191.36.

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.