Focused Wealth Management Inc Decreases Stock Holdings in General Electric (NYSE:GE)

Focused Wealth Management Inc lessened its stake in shares of General Electric (NYSE:GE) by 50.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,735 shares of the conglomerate’s stock after selling 10,814 shares during the quarter. Focused Wealth Management Inc’s holdings in General Electric were worth $2,024,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GE. Mackenzie Financial Corp lifted its holdings in General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after acquiring an additional 57,372 shares during the period. Marietta Investment Partners LLC purchased a new stake in shares of General Electric during the 2nd quarter valued at about $1,569,000. GAMMA Investing LLC lifted its stake in shares of General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after purchasing an additional 3,442 shares during the period. Senator Investment Group LP purchased a new position in shares of General Electric in the second quarter worth approximately $34,973,000. Finally, Blair William & Co. IL grew its position in General Electric by 4.4% during the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after buying an additional 7,670 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GE has been the topic of several analyst reports. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Sanford C. Bernstein lifted their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Citigroup boosted their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada decreased their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Two 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, General Electric has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Performance

Shares of NYSE GE opened at $175.26 on Wednesday. The company has a market cap of $189.68 billion, a P/E ratio of 30.80, a P/E/G ratio of 1.70 and a beta of 1.19. General Electric has a 52-week low of $86.83 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 1.13. The firm’s fifty day moving average is $180.29 and its two-hundred day moving average is $169.51.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. As a group, analysts anticipate that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. General Electric’s dividend payout ratio is currently 19.68%.

About General Electric

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.