First Bancorp Inc ME Sells 63 Shares of General Electric (NYSE:GE)

First Bancorp Inc ME cut its holdings in General Electric (NYSE:GE) by 1.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,080 shares of the conglomerate’s stock after selling 63 shares during the period. First Bancorp Inc ME’s holdings in General Electric were worth $1,147,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Studio Investment Management LLC raised its stake in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. MFA Wealth Advisors LLC bought a new position in shares of General Electric during the second quarter valued at about $31,000. Richardson Financial Services Inc. bought a new position in shares of General Electric during the first quarter valued at about $34,000. Financial Connections Group Inc. purchased a new position in shares of General Electric during the second quarter valued at about $32,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of General Electric during the first quarter valued at about $37,000. 74.77% of the stock is owned by institutional investors.

General Electric Stock Down 0.0 %

Shares of NYSE:GE traded down $0.01 during trading on Friday, reaching $192.61. 3,075,931 shares of the stock traded hands, compared to its average volume of 6,334,083. The stock has a 50-day moving average of $178.51 and a two-hundred day moving average of $167.21. General Electric has a 52-week low of $84.42 and a 52-week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The stock has a market cap of $210.83 billion, a P/E ratio of 63.12, a price-to-earnings-growth ratio of 1.86 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is 36.72%.

Analysts Set New Price Targets

GE has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target 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. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. 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 boosted their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Sanford C. Bernstein upped their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $196.86.

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.