St. Louis Financial Planners Asset Management LLC Lowers Stake in General Electric (NYSE:GE)

St. Louis Financial Planners Asset Management LLC reduced its position in shares of General Electric (NYSE:GE) by 22.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,462 shares of the conglomerate’s stock after selling 5,998 shares during the quarter. General Electric accounts for approximately 3.0% of St. Louis Financial Planners Asset Management LLC’s investment portfolio, making the stock its 7th biggest holding. St. Louis Financial Planners Asset Management LLC’s holdings in General Electric were worth $3,828,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after buying an additional 550,996 shares during the period. Capital International Investors raised its holdings in General Electric by 9.9% in the 1st 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 in the last quarter. Newport Trust Company LLC bought a new stake in shares of General Electric during the 2nd quarter valued at $2,613,332,000. Capital World Investors grew its holdings in shares of General Electric by 2,818.1% during the 1st 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 in the last quarter. Finally, Legal & General Group Plc increased its position in shares of General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after purchasing an additional 459,201 shares during the period. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Jefferies Financial Group upped their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Barclays lifted 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. Finally, Royal Bank of Canada increased their target price on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price of $193.00.

General Electric Stock Up 0.8 %

Shares of NYSE GE opened at $187.47 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The company has a market capitalization of $205.21 billion, a P/E ratio of 61.47, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. The company’s 50 day moving average price is $174.24 and its 200-day moving average price is $166.21. General Electric has a 52-week low of $84.42 and a 52-week high of $190.88.

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

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a $0.28 dividend. 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 0.60%. General Electric’s dividend payout ratio (DPR) is presently 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.