L & S Advisors Inc Trims Stake in General Electric (NYSE:GE)

L & S Advisors Inc lessened its holdings in General Electric (NYSE:GE) by 96.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,344 shares of the conglomerate’s stock after selling 36,456 shares during the period. L & S Advisors Inc’s holdings in General Electric were worth $214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of GE. Vanguard Group Inc. increased its holdings in General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after purchasing an additional 550,996 shares during the last quarter. Capital International Investors grew its stake in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares in the last quarter. Capital World Investors grew its stake in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in General Electric by 6.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate’s stock worth $849,385,000 after acquiring an additional 426,794 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Down 0.6 %

NYSE:GE opened at $180.32 on Wednesday. General Electric has a 1 year low of $84.42 and a 1 year high of $182.43. The stock has a market cap of $197.38 billion, a P/E ratio of 59.12, a P/E/G ratio of 1.65 and a beta of 1.18. 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 stock has a 50-day simple moving average of $167.28 and a 200-day simple moving average of $170.87.

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, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the prior year, the company posted $0.68 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.62%. General Electric’s dividend payout ratio is currently 36.72%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. UBS Group upped their target price on shares of 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 raised 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. Deutsche Bank Aktiengesellschaft upped their price objective on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Royal Bank of Canada lifted their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two 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, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $191.14.

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.