Evermay Wealth Management LLC Cuts Holdings in General Electric (NYSE:GE)

Evermay Wealth Management LLC trimmed its holdings in shares of General Electric (NYSE:GE) by 13.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,733 shares of the conglomerate’s stock after selling 269 shares during the period. Evermay Wealth Management LLC’s holdings in General Electric were worth $327,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GE. Mackenzie Financial Corp lifted its holdings in shares of General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after buying an additional 57,372 shares during the period. Marietta Investment Partners LLC bought a new stake in General Electric during the second quarter valued at about $1,569,000. GAMMA Investing LLC raised its holdings in General Electric by 25.4% during the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after acquiring an additional 3,442 shares during the period. Senator Investment Group LP bought a new stake in General Electric during the second quarter valued at about $34,973,000. Finally, Blair William & Co. IL raised its holdings 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 acquiring an additional 7,670 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Up 0.5 %

Shares of General Electric stock traded up $0.91 during mid-day trading on Wednesday, hitting $174.96. The stock had a trading volume of 686,283 shares, compared to its average volume of 6,331,272. The firm has a 50-day moving average of $180.07 and a two-hundred day moving average of $168.82. General Electric has a 12-month low of $84.66 and a 12-month high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a market cap of $189.36 billion, a P/E ratio of 30.60, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $0.82 EPS. Sell-side analysts forecast that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a $0.28 dividend. 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 payout ratio is 19.68%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. UBS Group raised their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Citigroup boosted their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Barclays boosted their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average price target of $200.93.

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.