General Electric (NYSE:GE) Stake Reduced by Xn LP

Xn LP lowered its stake in General Electric (NYSE:GE) by 71.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 895,961 shares of the conglomerate’s stock after selling 2,203,238 shares during the quarter. General Electric accounts for 5.9% of Xn LP’s portfolio, making the stock its 5th biggest position. Xn LP owned 0.08% of General Electric worth $142,431,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

GE has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. UBS Group boosted their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Jefferies Financial Group raised their price objective 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 target price on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Sanford C. Bernstein assumed coverage on General Electric in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price for the company. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Trading Down 0.6 %

NYSE GE opened at $180.32 on Wednesday. The stock’s fifty day moving average price is $167.28 and its 200-day moving average price is $170.87. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. 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. General Electric has a 12 month low of $84.42 and a 12 month high of $182.43.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The business 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% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. As a group, equities analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a $0.28 dividend. 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 (DPR) is presently 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.