Graybill Wealth Management LTD. Sells 281 Shares of General Electric (NYSE:GE)

Graybill Wealth Management LTD. lowered its stake in shares of General Electric (NYSE:GE) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,777 shares of the conglomerate’s stock after selling 281 shares during the period. General Electric accounts for about 1.9% of Graybill Wealth Management LTD.’s investment portfolio, making the stock its 25th largest position. Graybill Wealth Management LTD.’s holdings in General Electric were worth $5,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Tsfg LLC grew its holdings in General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after buying an additional 55 shares in the last quarter. Macroview Investment Management LLC grew its holdings in shares of General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. Strategic Advisors LLC increased its position in General Electric by 2.6% in the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after purchasing an additional 58 shares during the last quarter. Allegheny Financial Group LTD raised its stake in 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. Finally, New England Research & Management Inc. lifted its position in General Electric by 2.2% during the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on GE shares. Jefferies Financial Group boosted their target price 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. Deutsche Bank Aktiengesellschaft upped their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company increased their price target on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Barclays lifted their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $198.53.

General Electric Trading Down 9.1 %

GE stock traded down $17.73 during mid-day trading on Tuesday, reaching $176.50. The company had a trading volume of 6,038,072 shares, compared to its average volume of 6,324,736. The company has a market capitalization of $193.20 billion, a PE ratio of 57.87, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The firm has a 50 day moving average of $179.06 and a 200 day moving average of $167.91. General Electric has a 12 month low of $84.58 and a 12 month high of $194.80. 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 (NYSE:GE) last announced its quarterly earnings data 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. The company 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%. General Electric’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share. On average, equities analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be issued a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. 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.