University of Texas Texas AM Investment Management Co. Sells 4,672 Shares of General Electric (NYSE:GE)

University of Texas Texas AM Investment Management Co. lowered its stake in shares of General Electric (NYSE:GE) by 65.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,483 shares of the conglomerate’s stock after selling 4,672 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in General Electric were worth $395,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GE. Vanguard Group Inc. increased its position in General Electric by 0.6% in 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. Capital International Investors raised its stake 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 during the period. Newport Trust Company LLC purchased a new stake in General Electric during the second quarter valued at about $2,613,332,000. Capital World Investors boosted its position in General Electric by 2,818.1% during the first 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 during the period. Finally, Legal & General Group Plc increased its stake 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 in the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Stock Down 1.2 %

Shares of GE opened at $186.30 on Wednesday. The firm has a market cap 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. 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 1 year low of $84.42 and a 1 year high of $190.88. The stock has a 50 day simple moving average of $172.31 and a two-hundred day simple moving average of $169.45.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $0.68 earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is 36.72%.

Analyst Upgrades and Downgrades

GE has been the subject of several analyst reports. Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Royal Bank of Canada boosted 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. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Sanford C. Bernstein began coverage on shares of General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective 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 research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price 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.