Morse Asset Management Inc Sells 888 Shares of General Electric (NYSE:GE)

Morse Asset Management Inc decreased its holdings in General Electric (NYSE:GE) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,296 shares of the conglomerate’s stock after selling 888 shares during the period. Morse Asset Management Inc’s holdings in General Electric were worth $2,273,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GE. Newport Trust Company LLC bought a new stake in shares of General Electric in the 2nd quarter worth about $2,613,332,000. Capital World Investors lifted its stake in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Capital International Investors lifted its stake in General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of General Electric during the second quarter valued at approximately $580,200,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GE shares. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a research note on Friday. Jefferies Financial Group raised their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Wells Fargo & Company boosted their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their target price on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.36.

General Electric Stock Up 0.7 %

General Electric stock opened at $187.43 on Monday. General Electric has a twelve month low of $84.42 and a twelve month high of $187.99. The business has a fifty day moving average of $168.69 and a two-hundred day moving average of $170.57. The firm has a market cap of $205.16 billion, a P/E ratio of 61.45, a P/E/G ratio of 1.65 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The company 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 firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share. On average, analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a dividend of $0.28 per share. 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 payout ratio is 36.72%.

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.