NCP Inc. Sells 75 Shares of General Electric (NYSE:GE)

NCP Inc. decreased its stake in General Electric (NYSE:GE) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,454 shares of the conglomerate’s stock after selling 75 shares during the period. NCP Inc.’s holdings in General Electric were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GE. Mackenzie Financial Corp raised its holdings in General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after purchasing an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC bought a new position in General Electric during the second quarter worth $1,569,000. Vanguard Group Inc. raised its stake 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 during the last quarter. GAMMA Investing LLC lifted its holdings in General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after buying an additional 3,442 shares during the period. Finally, Senator Investment Group LP bought a new stake in General Electric during the second quarter valued at $34,973,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Performance

Shares of GE opened at $186.30 on Wednesday. The firm has a market capitalization of $203.93 billion, a P/E ratio of 61.08, a P/E/G ratio of 1.87 and a beta of 1.18. General Electric has a 52 week low of $84.42 and a 52 week high of $190.88. The stock has a 50 day moving average price of $172.31 and a two-hundred day moving average price of $169.45. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last announced its quarterly 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. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. General Electric’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 fiscal year.

General Electric Dividend Announcement

The company also recently declared 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is currently 36.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GE shares. Royal Bank of Canada upped their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. UBS Group raised their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Sanford C. Bernstein initiated coverage on shares of General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price on the stock. Finally, Wells Fargo & Company lifted their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $191.36.

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.