Stock Yards Bank & Trust Co. Has $1.91 Million Holdings in General Electric (NYSE:GE)

Stock Yards Bank & Trust Co. lessened its holdings in shares of General Electric (NYSE:GE) by 4.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 12,005 shares of the conglomerate’s stock after selling 562 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in General Electric were worth $1,908,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in GE. Capital World Investors grew its position in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Capital International Investors grew its position in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after purchasing an additional 4,907,530 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of General Electric in the second quarter valued at approximately $580,200,000. Finally, Evergreen Quality Fund GP Ltd. acquired a new position in shares of General Electric in the first quarter valued at approximately $385,745,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Down 0.6 %

NYSE GE opened at $180.32 on Wednesday. The business has a fifty day moving average price of $167.28 and a two-hundred day moving average price of $170.87. 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 has a fifty-two week low of $84.42 and a fifty-two week high of $182.43. The stock has a market capitalization of $197.38 billion, a PE ratio of 59.12, a PEG ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’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 EPS. Equities analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

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 given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric’s dividend payout ratio is currently 36.72%.

Analyst Ratings Changes

Several research firms have recently commented on GE. Royal Bank of Canada upped their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Jefferies Financial Group increased their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Wells Fargo & Company increased their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their price target on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.14.

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.