Harbour Investments Inc. Sells 673 Shares of General Electric (NYSE:GE)

Harbour Investments Inc. lessened its holdings in shares of General Electric (NYSE:GE) by 7.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,804 shares of the conglomerate’s stock after selling 673 shares during the quarter. Harbour Investments Inc.’s holdings in General Electric were worth $1,241,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. MFA Wealth Advisors LLC acquired a new position in General Electric during the second quarter worth approximately $31,000. Kapitalo Investimentos Ltda bought a new position in General Electric in the 4th quarter valued at approximately $32,000. Richardson Financial Services Inc. bought a new position in shares of General Electric during the first quarter valued at $34,000. Macroview Investment Management LLC lifted its holdings in 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 buying an additional 58 shares during the period. Finally, ANTIPODES PARTNERS Ltd bought a new stake in General Electric in the first quarter valued at $37,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GE. Deutsche Bank Aktiengesellschaft lifted their target price on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Jefferies Financial Group boosted their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their target price on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $190.38.

General Electric Stock Up 0.7 %

NYSE GE traded up $1.18 on Wednesday, reaching $172.17. The company had a trading volume of 2,314,745 shares, compared to its average volume of 6,767,113. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The firm has a market capitalization of $188.46 billion, a PE ratio of 56.51, a P/E/G ratio of 1.70 and a beta of 1.21. General Electric has a 1 year low of $84.42 and a 1 year high of $177.20. The firm has a 50-day moving average of $164.55 and a 200-day moving average of $161.91.

General Electric (NYSE:GE) last posted its 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. The firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. On average, equities research analysts anticipate that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. General Electric’s dividend payout ratio (DPR) 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.