Copperwynd Financial LLC Trims Stock Position in General Electric (NYSE:GE)

Copperwynd Financial LLC cut its position in General Electric (NYSE:GE) by 11.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,418 shares of the conglomerate’s stock after selling 1,788 shares during the quarter. General Electric makes up 0.8% of Copperwynd Financial LLC’s investment portfolio, making the stock its 24th biggest holding. Copperwynd Financial LLC’s holdings in General Electric were worth $2,454,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GE. Macroview Investment Management LLC raised its stake in General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 58 shares during the last quarter. Allegheny Financial Group LTD lifted its holdings in shares of General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after purchasing an additional 61 shares during the period. New England Research & Management Inc. grew its position in General Electric by 2.2% in the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after buying an additional 63 shares during the last quarter. Certified Advisory Corp increased its stake in General Electric by 1.0% in the 2nd quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock valued at $1,045,000 after buying an additional 63 shares during the period. Finally, Argent Trust Co raised its position in General Electric by 0.6% during the 2nd quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock worth $1,707,000 after buying an additional 64 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. UBS Group increased their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Royal Bank of Canada increased their price objective on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Barclays boosted their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $191.36.

General Electric Stock Performance

NYSE:GE opened at $185.38 on Friday. 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 company has a market capitalization of $202.92 billion, a P/E ratio of 60.78, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. The firm has a 50-day moving average price of $171.51 and a two-hundred day moving average price of $170.08. General Electric has a twelve month low of $84.42 and a twelve month high of $190.88.

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

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. General Electric’s dividend payout ratio is currently 36.72%.

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.