General Electric (NYSE:GE) Shares Sold by Foresight Global Investors Inc.

Foresight Global Investors Inc. reduced its holdings in General Electric (NYSE:GE) by 20.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,550 shares of the conglomerate’s stock after selling 1,650 shares during the period. Foresight Global Investors Inc.’s holdings in General Electric were worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GE. Studio Investment Management LLC grew its position in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the period. MFA Wealth Advisors LLC purchased a new position in shares of General Electric during the 2nd quarter worth $31,000. Richardson Financial Services Inc. acquired a new stake in shares of General Electric during the 1st quarter worth about $34,000. Financial Connections Group Inc. purchased a new stake in General Electric in the 2nd quarter valued at about $32,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in General Electric in the 1st quarter valued at about $37,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GE. Wells Fargo & Company increased their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Barclays increased their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Sanford C. Bernstein assumed coverage on General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target on the stock. Finally, Jefferies Financial Group lifted their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.14.

General Electric Stock Up 1.8 %

GE stock opened at $181.46 on Tuesday. The company’s 50 day moving average price is $166.93 and its 200 day moving average price is $171.00. The firm has a market capitalization of $198.63 billion, a price-to-earnings ratio of 59.50, a PEG ratio of 1.65 and a beta of 1.18. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $181.52. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS. On average, equities research analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s payout ratio is 36.72%.

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.