General Electric (NYSE:GE) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. cut its holdings in shares of General Electric (NYSE:GE) by 68.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,369 shares of the conglomerate’s stock after selling 5,113 shares during the period. E Fund Management Co. Ltd.’s holdings in General Electric were worth $377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bradley Foster & Sargent Inc. CT raised its holdings in shares of General Electric by 174.2% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 50,029 shares of the conglomerate’s stock valued at $7,953,000 after acquiring an additional 31,786 shares during the period. Plancorp LLC raised its stake in General Electric by 0.9% during the 2nd quarter. Plancorp LLC now owns 12,134 shares of the conglomerate’s stock valued at $1,929,000 after purchasing an additional 112 shares during the period. Peregrine Asset Advisers Inc. raised its stake in General Electric by 4.5% during the 2nd quarter. Peregrine Asset Advisers Inc. now owns 17,178 shares of the conglomerate’s stock valued at $2,731,000 after purchasing an additional 739 shares during the period. Alpha Financial Partners LLC purchased a new stake in shares of General Electric in the second quarter valued at $213,000. Finally, Pekin Hardy Strauss Inc. boosted its position in shares of General Electric by 16.7% in the second quarter. Pekin Hardy Strauss Inc. now owns 5,097 shares of the conglomerate’s stock worth $810,000 after buying an additional 730 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on GE shares. Royal Bank of Canada upped their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Barclays raised 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. UBS Group upped their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company upped their price target on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $191.14.

General Electric Stock Performance

Shares of NYSE GE opened at $183.54 on Thursday. The business has a fifty day simple moving average of $167.63 and a 200 day simple moving average of $170.96. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $200.90 billion, a price-to-earnings ratio of 60.18, a PEG ratio of 1.65 and a beta of 1.18. General Electric has a one year low of $84.42 and a one year high of $185.77.

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

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 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.