HBK Sorce Advisory LLC Sells 387 Shares of General Electric (NYSE:GE)

HBK Sorce Advisory LLC reduced its stake in General Electric (NYSE:GE) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,954 shares of the conglomerate’s stock after selling 387 shares during the period. HBK Sorce Advisory LLC’s holdings in General Electric were worth $2,536,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GE. Studio Investment Management LLC increased its holdings in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the period. MFA Wealth Advisors LLC purchased a new position in General Electric during the 2nd quarter worth approximately $31,000. Kapitalo Investimentos Ltda acquired a new stake in General Electric during the 4th quarter valued at approximately $32,000. Financial Connections Group Inc. purchased a new stake in shares of General Electric in the 2nd quarter valued at $32,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of General Electric during the first quarter worth $34,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of GE stock opened at $169.70 on Friday. The firm has a 50 day moving average of $166.22 and a two-hundred day moving average of $171.53. The stock has a market capitalization of $184.01 billion, a PE ratio of 55.64, a P/E/G ratio of 1.65 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a 52 week low of $84.42 and a 52 week high of $177.20.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio is currently 36.72%.

Analyst Upgrades and Downgrades

GE has been the subject of several analyst reports. Sanford C. Bernstein began coverage on shares of General Electric in a research note on Tuesday. They issued an “outperform” rating and a $201.00 target price for the company. Royal Bank of Canada lifted their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Barclays increased their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. UBS Group upped their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $191.14.

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.