General Electric (NYSE:GE) Shares Sold by SPC Financial Inc.

SPC Financial Inc. decreased its stake in shares of General Electric (NYSE:GE) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,084 shares of the conglomerate’s stock after selling 166 shares during the period. SPC Financial Inc.’s holdings in General Electric were worth $582,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Studio Investment Management LLC lifted its stake in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC purchased a new position in General Electric in the second quarter valued at approximately $31,000. Kapitalo Investimentos Ltda acquired a new position in General Electric during the fourth quarter valued at approximately $32,000. Financial Connections Group Inc. purchased a new stake in General Electric during the second quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of General Electric in the first quarter worth $34,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company increased their target price on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Sanford C. Bernstein raised their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday. UBS Group upped their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Finally, StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $196.86.

General Electric Price Performance

Shares of GE stock opened at $192.64 on Friday. The firm has a fifty day moving average of $178.01 and a two-hundred day moving average of $167.09. The firm has a market cap of $210.87 billion, a P/E ratio of 63.16, a P/E/G ratio of 1.86 and a beta of 1.18. General Electric has a 1-year low of $84.42 and a 1-year 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 posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping 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 business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period last year, the firm earned $0.68 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, research analysts anticipate 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 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

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.