RWQ Financial Management Services Inc. Sells 301 Shares of General Electric (NYSE:GE)

RWQ Financial Management Services Inc. reduced its position in shares of General Electric (NYSE:GE) by 17.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,450 shares of the conglomerate’s stock after selling 301 shares during the period. General Electric accounts for about 0.1% of RWQ Financial Management Services Inc.’s holdings, making the stock its 23rd biggest position. RWQ Financial Management Services Inc.’s holdings in General Electric were worth $273,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Newport Trust Company LLC bought a new stake in shares of General Electric during the 2nd quarter worth $2,613,332,000. Capital World Investors raised its position in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after acquiring an additional 12,312,648 shares during the period. Capital International Investors boosted its stake in General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after acquiring an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of General Electric during the 2nd quarter worth approximately $580,200,000. 74.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays upped their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Citigroup increased their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Sanford C. Bernstein boosted their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Price Performance

GE traded down $0.08 on Friday, reaching $171.70. The company had a trading volume of 3,984,932 shares, compared to its average volume of 4,578,521. General Electric has a 52-week low of $85.89 and a 52-week high of $194.80. The company has a market cap of $185.83 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 1.70 and a beta of 1.19. 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 business has a 50 day simple moving average of $180.20 and a 200 day simple moving average of $169.10.

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

General Electric Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.65%. General Electric’s dividend payout ratio (DPR) is presently 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.