General Electric (NYSE:GE) Stock Position Lessened by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC trimmed its holdings in shares of General Electric (NYSE:GE) by 3.5% during the third quarter, Holdings Channel.com reports. The firm owned 25,542 shares of the conglomerate’s stock after selling 937 shares during the quarter. Greenwood Capital Associates LLC’s holdings in General Electric were worth $4,817,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors grew its position in General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after purchasing an additional 5,309,543 shares in the last quarter. Newport Trust Company LLC acquired a new stake in shares of General Electric during the 2nd quarter worth approximately $2,613,332,000. Capital World Investors lifted its position in shares of General Electric by 2,818.1% during the 1st 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. Legal & General Group Plc boosted its holdings in shares of General Electric by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after acquiring an additional 459,201 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position 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 valued at $1,250,079,000 after buying an additional 4,907,530 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GE has been the subject of a number of analyst reports. Melius Research lifted their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reduced their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

Shares of NYSE GE opened at $171.76 on Tuesday. The firm has a market cap of $185.89 billion, a P/E ratio of 30.19, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19. General Electric has a 1-year low of $86.83 and a 1-year high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average is $180.21 and its 200-day moving average is $169.32.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the company posted $0.82 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities research analysts predict that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is 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.