Court Place Advisors LLC Lowers Position in General Electric (NYSE:GE)

Court Place Advisors LLC decreased its stake in shares of General Electric (NYSE:GE) by 3.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,445 shares of the conglomerate’s stock after selling 218 shares during the period. Court Place Advisors LLC’s holdings in General Electric were worth $1,215,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Tsfg LLC lifted its holdings in General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares in the last quarter. Macroview Investment Management LLC boosted its position in shares of General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 58 shares during the period. Strategic Advisors LLC grew its stake in General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after acquiring an additional 58 shares in the last quarter. Allegheny Financial Group LTD increased its holdings in General Electric by 1.4% during the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after acquiring an additional 61 shares during the period. Finally, New England Research & Management Inc. lifted its stake in General Electric by 2.2% in the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 0.4 %

Shares of NYSE GE traded up $0.71 during trading hours on Friday, hitting $180.45. The company’s stock had a trading volume of 604,528 shares, compared to its average volume of 6,350,744. General Electric has a 12 month low of $84.58 and a 12 month high of $194.80. The stock has a market cap of $197.52 billion, a price-to-earnings ratio of 58.90, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The business has a 50-day simple moving average of $179.51 and a 200-day simple moving average of $168.15.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share. On average, analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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

Analyst Upgrades and Downgrades

GE has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Citigroup raised their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Jefferies Financial Group boosted their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Bank of America raised their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays increased their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average 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.