General Electric (NYSE:GE) Shares Sold by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. cut its holdings in General Electric (NYSE:GE) by 6.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,464 shares of the conglomerate’s stock after selling 102 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in General Electric were worth $276,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in GE. Newport Trust Company LLC acquired a new stake in shares of General Electric in the second quarter worth approximately $2,613,332,000. Capital World Investors boosted its holdings in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Capital International Investors boosted its holdings 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 purchasing an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board grew 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 valued at $1,250,079,000 after buying an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of General Electric during the 2nd quarter worth $580,200,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a report on Tuesday. Royal Bank of Canada dropped their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday. Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, UBS Group increased their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Up 2.9 %

Shares of General Electric stock opened at $181.78 on Thursday. General Electric has a 1-year low of $84.58 and a 1-year high of $194.80. The company has a market capitalization of $198.98 billion, a PE ratio of 59.60, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The business has a 50-day moving average of $179.51 and a 200-day moving average of $168.15.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the firm earned $0.82 EPS. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.62%. General Electric’s dividend payout ratio is presently 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.