Deseret Mutual Benefit Administrators Sells 100 Shares of General Electric (NYSE:GE)

Deseret Mutual Benefit Administrators lessened its holdings in General Electric (NYSE:GE) by 15.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 545 shares of the conglomerate’s stock after selling 100 shares during the period. Deseret Mutual Benefit Administrators’ holdings in General Electric were worth $103,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GE. Studio Investment Management LLC increased its position in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the period. Toth Financial Advisory Corp bought a new position in General Electric in the third quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric during the 3rd quarter worth $27,000. MFA Wealth Advisors LLC bought a new stake in General Electric during the 2nd quarter valued at $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of General Electric in the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE GE opened at $181.70 on Thursday. General Electric has a 12 month low of $89.59 and a 12 month high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The firm’s 50 day simple moving average is $180.47 and its 200-day simple moving average is $169.59. The stock has a market capitalization of $196.65 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 1.70 and a beta of 1.19.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $0.82 earnings per share. Analysts expect that General Electric will post 4.22 EPS for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

Analysts Set New Price Targets

Several brokerages have recently commented on GE. Bank of America raised their price target 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 target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company upped their price target on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, StockNews.com lowered 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 issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.