General Electric (NYSE:GE) Holdings Lowered by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its position in shares of General Electric (NYSE:GE) by 0.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 43,462 shares of the conglomerate’s stock after selling 111 shares during the period. King Luther Capital Management Corp’s holdings in General Electric were worth $6,909,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Aveo Capital Partners LLC bought a new position in shares of General Electric in the fourth quarter valued at $203,000. Gryphon Financial Partners LLC grew its holdings in shares of General Electric by 57.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock worth $1,526,000 after acquiring an additional 4,354 shares during the last quarter. CreativeOne Wealth LLC raised its position in shares of General Electric by 13.8% during the fourth quarter. CreativeOne Wealth LLC now owns 3,975 shares of the conglomerate’s stock worth $507,000 after purchasing an additional 482 shares during the period. Franklin Resources Inc. lifted its holdings in shares of General Electric by 13.7% during the fourth quarter. Franklin Resources Inc. now owns 602,100 shares of the conglomerate’s stock valued at $76,846,000 after purchasing an additional 72,325 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of General Electric by 27.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 177,912 shares of the conglomerate’s stock valued at $22,707,000 after purchasing an additional 38,784 shares during the period. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. UBS Group raised their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Wells Fargo & Company raised their target price on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. 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. Sanford C. Bernstein started coverage on General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective for the company. Finally, StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $191.36.

General Electric Stock Performance

GE opened at $187.39 on Friday. 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 business has a fifty day simple moving average of $168.69 and a 200 day simple moving average of $170.96. General Electric has a 1 year low of $84.42 and a 1 year high of $187.99. The company has a market capitalization of $205.12 billion, a PE ratio of 61.44, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18.

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

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.60%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

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.