General Electric (NYSE:GE) Shares Sold by Roof Eidam Maycock Peralta LLC

Roof Eidam Maycock Peralta LLC lowered its stake in shares of General Electric (NYSE:GE) by 1.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,777 shares of the conglomerate’s stock after selling 75 shares during the period. Roof Eidam Maycock Peralta LLC’s holdings in General Electric were worth $712,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GE. Capital International Investors boosted its stake in shares of 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 acquiring an additional 5,309,543 shares in the last quarter. Newport Trust Company LLC purchased a new position in shares of General Electric in the 2nd quarter valued at about $2,613,332,000. Capital World Investors raised its holdings in General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Legal & General Group Plc increased its position in shares of General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after buying an additional 459,201 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of General Electric by 221.6% during 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 buying an additional 4,907,530 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada raised their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Jefferies Financial Group lifted their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, UBS Group increased their target price 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. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $196.86.

General Electric Trading Up 0.9 %

Shares of GE stock opened at $194.35 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. General Electric has a 1-year low of $84.58 and a 1-year high of $194.80. The company has a 50-day moving average of $179.06 and a two-hundred day moving average of $167.91. The firm has a market cap of $212.74 billion, a PE ratio of 63.72, 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 (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates 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 quarter last year, the company posted $0.68 earnings per share. On average, analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The company also recently disclosed 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. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is currently 36.72%.

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.