Lmcg Investments LLC Decreases Stock Holdings in General Electric (NYSE:GE)

Lmcg Investments LLC lessened its holdings in General Electric (NYSE:GE) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,085 shares of the conglomerate’s stock after selling 66 shares during the period. Lmcg Investments LLC’s holdings in General Electric were worth $770,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ashton Thomas Private Wealth LLC grew its position in General Electric by 3.1% in the first quarter. Ashton Thomas Private Wealth LLC now owns 3,975 shares of the conglomerate’s stock valued at $698,000 after acquiring an additional 118 shares in the last quarter. Norden Group LLC acquired a new stake in General Electric during the 1st quarter valued at $234,000. Diversify Advisory Services LLC purchased a new stake in General Electric during the 1st quarter worth $288,000. Janney Montgomery Scott LLC lifted its holdings in General Electric by 11.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 136,942 shares of the conglomerate’s stock worth $24,038,000 after buying an additional 14,018 shares in the last quarter. Finally, Moloney Securities Asset Management LLC acquired a new position in General Electric in the 1st quarter worth $239,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

GE stock opened at $171.70 on Friday. General Electric has a 1 year low of $85.89 and a 1 year high of $194.80. The stock has a market capitalization of $185.83 billion, a price-to-earnings ratio of 30.18, a PEG 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 stock’s fifty day moving average is $180.20 and its two-hundred day moving average is $169.10.

General Electric (NYSE:GE) last issued its quarterly earnings data 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. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period last year, the firm posted $0.82 EPS. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts predict that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GE. Bank of America raised their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Barclays raised 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 upped their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price target 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, StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

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.