Sienna Gestion Decreases Holdings in General Electric (NYSE:GE)

Sienna Gestion trimmed its holdings in General Electric (NYSE:GE) by 45.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,436 shares of the conglomerate’s stock after selling 1,182 shares during the quarter. Sienna Gestion’s holdings in General Electric were worth $228,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GE. Macroview Investment Management LLC grew its stake in General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. Allegheny Financial Group LTD grew its position in shares of General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after purchasing an additional 61 shares in the last quarter. New England Research & Management Inc. increased its holdings in shares of General Electric by 2.2% in the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after purchasing an additional 63 shares during the last quarter. Argent Trust Co lifted its position in shares of General Electric by 0.6% in the second quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock worth $1,707,000 after buying an additional 64 shares in the last quarter. Finally, Choate Investment Advisors boosted its stake in General Electric by 0.4% during the first quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock valued at $2,808,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GE shares. UBS Group lifted their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Jefferies Financial Group increased their price objective 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. Sanford C. Bernstein started coverage on shares of General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price on the stock. Royal Bank of Canada raised their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $191.14.

General Electric Stock Up 1.4 %

Shares of GE opened at $186.16 on Friday. The firm has a fifty day moving average price of $168.12 and a 200-day moving average price of $171.06. 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 firm has a market capitalization of $203.77 billion, a P/E ratio of 61.04, a P/E/G ratio of 1.65 and a beta of 1.18. General Electric has a 12-month low of $84.42 and a 12-month high of $187.99.

General Electric (NYSE:GE) last released its quarterly earnings data 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. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. Equities research analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

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 issued a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.60%. General Electric’s payout ratio is currently 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.