Excalibur Management Corp Decreases Stock Holdings in General Electric (NYSE:GE)

Excalibur Management Corp trimmed its stake in shares of General Electric (NYSE:GE) by 2.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,495 shares of the conglomerate’s stock after selling 74 shares during the period. Excalibur Management Corp’s holdings in General Electric were worth $556,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Aveo Capital Partners LLC purchased a new stake in General Electric during the fourth quarter valued at approximately $203,000. Gryphon Financial Partners LLC increased its holdings in General Electric by 57.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock valued at $1,526,000 after buying an additional 4,354 shares during the last quarter. Jump Financial LLC purchased a new stake in General Electric during the fourth quarter valued at approximately $477,000. Sachetta LLC purchased a new stake in General Electric during the fourth quarter valued at approximately $167,000. Finally, Corient Private Wealth LLC increased its holdings in General Electric by 8.0% during the fourth quarter. Corient Private Wealth LLC now owns 229,376 shares of the conglomerate’s stock valued at $29,275,000 after buying an additional 16,952 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GE. Jefferies Financial Group upped their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Barclays increased their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company increased their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Sanford C. Bernstein assumed coverage on shares of General Electric in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price target on the stock. Finally, StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.14.

General Electric Stock Performance

Shares of General Electric stock opened at $181.46 on Tuesday. The firm’s fifty day simple moving average is $166.93 and its 200-day simple moving average is $171.00. The stock has a market capitalization of $198.63 billion, a price-to-earnings ratio of 59.50, a PEG ratio of 1.65 and a beta of 1.18. General Electric has a 12 month low of $84.42 and a 12 month high of $181.52. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

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

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric’s payout ratio is currently 36.72%.

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.