Abbrea Capital LLC Decreases Position in General Electric (NYSE:GE)

Abbrea Capital LLC decreased its holdings in shares of General Electric (NYSE:GE) by 3.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,906 shares of the conglomerate’s stock after selling 177 shares during the quarter. Abbrea Capital LLC’s holdings in General Electric were worth $780,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GE. Studio Investment Management LLC lifted its stake in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC purchased a new stake in General Electric in the second quarter valued at approximately $31,000. Richardson Financial Services Inc. purchased a new stake in General Electric in the first quarter valued at approximately $34,000. Financial Connections Group Inc. purchased a new stake in General Electric in the second quarter valued at approximately $32,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in General Electric in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 2.0 %

Shares of GE stock opened at $169.70 on Friday. The business’s fifty day moving average price is $166.22 and its 200 day moving average price is $171.53. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20. The firm has a market capitalization of $184.01 billion, a PE ratio of 55.64, 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 current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates 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 company earned $0.68 earnings per share. As a group, sell-side analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is 36.72%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group upped their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Sanford C. Bernstein assumed coverage on General Electric in a research note on Tuesday. They set an “outperform” rating and a $201.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Barclays upped their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average price target of $191.14.

About General Electric

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.