Tandem Capital Management Corp ADV Reduces Stake in General Electric (NYSE:GE)

Tandem Capital Management Corp ADV lowered its holdings in General Electric (NYSE:GE) by 3.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 40,527 shares of the conglomerate’s stock after selling 1,425 shares during the quarter. General Electric comprises approximately 3.9% of Tandem Capital Management Corp ADV’s holdings, making the stock its 2nd largest holding. Tandem Capital Management Corp ADV’s holdings in General Electric were worth $7,643,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the business. Newport Trust Company LLC purchased a new position in General Electric in the second quarter worth $2,613,332,000. Capital World Investors lifted its stake in shares of General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares during the period. Capital International Investors increased its position in shares of General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board raised its stake in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after acquiring an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in General Electric during the 2nd quarter worth about $580,200,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Sanford C. Bernstein upped their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Melius Research upped their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada lowered their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Trading Up 0.4 %

Shares of GE stock opened at $174.70 on Thursday. General Electric has a fifty-two week low of $84.66 and a fifty-two week high of $194.80. The firm has a market capitalization of $189.08 billion, a P/E ratio of 30.70, a PEG ratio of 1.74 and a beta of 1.18. The stock’s fifty day moving average is $180.14 and its two-hundred day moving average is $168.87. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $0.82 earnings per share. Research analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. General Electric’s dividend payout ratio is presently 19.68%.

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.