Gulf International Bank UK Ltd Decreases Position in General Electric (NYSE:GE)

Gulf International Bank UK Ltd trimmed its holdings in shares of General Electric (NYSE:GE) by 4.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 85,870 shares of the conglomerate’s stock after selling 3,863 shares during the period. Gulf International Bank UK Ltd’s holdings in General Electric were worth $16,193,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Norden Group LLC acquired a new stake in General Electric during the 1st quarter worth about $234,000. Nordea Investment Management AB boosted its position in General Electric by 0.5% in the first quarter. Nordea Investment Management AB now owns 106,753 shares of the conglomerate’s stock valued at $18,694,000 after buying an additional 572 shares during the last quarter. Whittier Trust Co. increased its holdings in General Electric by 2.6% in the 1st quarter. Whittier Trust Co. now owns 7,866 shares of the conglomerate’s stock worth $1,381,000 after buying an additional 199 shares during the period. GSA Capital Partners LLP raised its position in General Electric by 186.6% during the 1st quarter. GSA Capital Partners LLP now owns 6,082 shares of the conglomerate’s stock worth $1,068,000 after buying an additional 3,960 shares during the last quarter. Finally, Commerce Bank lifted its stake in General Electric by 2.4% during the 1st quarter. Commerce Bank now owns 54,542 shares of the conglomerate’s stock valued at $9,574,000 after acquiring an additional 1,301 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Up 0.0 %

Shares of GE stock opened at $171.76 on Tuesday. General Electric has a fifty-two week low of $86.83 and a fifty-two week high of $194.80. The firm has a market capitalization of $185.89 billion, a P/E ratio of 30.19, a PEG ratio of 1.70 and a beta of 1.19. The stock’s fifty day moving average is $180.21 and its two-hundred day moving average is $169.32. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The company 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%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 EPS. Research analysts expect that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is currently 19.68%.

Analyst Ratings Changes

A number of analysts have recently weighed in on GE shares. Sanford C. Bernstein increased their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada cut their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Melius Research lifted their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Barclays upped their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Citigroup lifted their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Company 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.