General Electric (NYSE:GE) Shares Sold by HBW Advisory Services LLC

HBW Advisory Services LLC trimmed its stake in shares of General Electric (NYSE:GE) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,063 shares of the conglomerate’s stock after selling 100 shares during the period. HBW Advisory Services LLC’s holdings in General Electric were worth $389,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after buying an additional 550,996 shares in the last quarter. Capital International Investors boosted its stake in shares of General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Newport Trust Company LLC purchased a new stake in General Electric during the 2nd quarter worth about $2,613,332,000. Capital World Investors raised its stake in General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in General Electric by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after purchasing an additional 459,201 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GE shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank of Canada boosted their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Jefferies Financial Group increased their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Sanford C. Bernstein initiated coverage on General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $193.00.

General Electric Trading Up 1.7 %

NYSE GE traded up $3.19 during mid-day trading on Friday, hitting $187.08. The company’s stock had a trading volume of 3,978,906 shares, compared to its average volume of 6,511,288. The firm has a market capitalization of $204.78 billion, a P/E ratio of 61.32, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. 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 52-week low of $84.42 and a 52-week high of $190.88. The stock’s fifty day simple moving average is $173.52 and its two-hundred day simple moving average is $166.17.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 7.66% and a return on equity of 16.07%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 EPS. Research analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

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.