Chapin Davis Inc. Sells 3,995 Shares of General Electric (NYSE:GE)

Chapin Davis Inc. lowered its stake in shares of General Electric (NYSE:GE) by 12.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 27,345 shares of the conglomerate’s stock after selling 3,995 shares during the period. General Electric makes up approximately 1.7% of Chapin Davis Inc.’s portfolio, making the stock its 11th biggest holding. Chapin Davis Inc.’s holdings in General Electric were worth $5,157,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GE. Macroview Investment Management LLC increased its position in shares of General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. Allegheny Financial Group LTD increased its holdings in shares of General Electric by 1.4% in the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after purchasing an additional 61 shares during the period. New England Research & Management Inc. boosted its position in shares of General Electric by 2.2% during the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after acquiring an additional 63 shares during the last quarter. Certified Advisory Corp grew its stake in General Electric by 1.0% in the 2nd quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock worth $1,045,000 after buying an additional 63 shares in the last quarter. Finally, Argent Trust Co increased its stake in General Electric by 0.6% in the second quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock valued at $1,707,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on GE shares. UBS Group increased their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Jefferies Financial Group boosted their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Sanford C. Bernstein assumed coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $193.00.

General Electric Stock Down 0.6 %

GE opened at $185.96 on Tuesday. General Electric has a 1-year low of $84.42 and a 1-year high of $190.88. The firm’s 50 day simple moving average is $173.52 and its two-hundred day simple moving average is $166.06. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $203.55 billion, a PE ratio of 60.97, a PEG ratio of 1.87 and a beta of 1.18.

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

General Electric Dividend Announcement

The business 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 of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.60%. General Electric’s dividend 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.