General Electric (NYSE:GE) Shares Sold by American Century Companies Inc.

American Century Companies Inc. decreased its holdings in General Electric (NYSE:GE) by 37.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 186,507 shares of the conglomerate’s stock after selling 112,200 shares during the quarter. American Century Companies Inc.’s holdings in General Electric were worth $29,649,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GE. Studio Investment Management LLC raised its position in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. MFA Wealth Advisors LLC purchased a new stake in General Electric during the 2nd quarter worth approximately $31,000. Richardson Financial Services Inc. acquired a new position in shares of General Electric during the first quarter valued at approximately $34,000. Financial Connections Group Inc. purchased a new position in shares of General Electric in the second quarter valued at approximately $32,000. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of General Electric in the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on GE shares. UBS Group raised their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Wells Fargo & Company boosted their price target on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Jefferies Financial Group increased their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $191.14.

General Electric Trading Up 1.8 %

NYSE GE opened at $183.54 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The stock has a market capitalization of $200.90 billion, a P/E ratio of 60.18, a PEG ratio of 1.65 and a beta of 1.18. The firm’s 50-day moving average is $167.63 and its two-hundred day moving average is $170.96. General Electric has a 12 month low of $84.42 and a 12 month high of $185.77.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period in the prior year, the business posted $0.68 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be issued a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. General Electric’s dividend payout ratio is presently 36.72%.

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.