First Financial Bank Trust Division Cuts Stock Position in General Electric (NYSE:GE)

First Financial Bank Trust Division cut its position in shares of General Electric (NYSE:GE) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,436 shares of the conglomerate’s stock after selling 109 shares during the quarter. First Financial Bank Trust Division’s holdings in General Electric were worth $1,025,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GE. CWA Asset Management Group LLC purchased a new stake in shares of General Electric in the 4th quarter valued at $239,000. CIBC Private Wealth Group LLC grew its stake in shares of General Electric by 3.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 77,992 shares of the conglomerate’s stock valued at $9,954,000 after buying an additional 2,400 shares during the last quarter. Edge Capital Group LLC purchased a new position in shares of General Electric in the fourth quarter worth about $266,000. Armistice Capital LLC bought a new stake in shares of General Electric in the 4th quarter valued at about $1,398,000. Finally, Lake Street Advisors Group LLC purchased a new stake in General Electric during the 4th quarter valued at about $467,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GE has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. UBS Group upped their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. 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. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada raised their target price on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.36.

General Electric Trading Up 0.1 %

Shares of GE stock opened at $186.42 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. General Electric has a 52-week low of $84.42 and a 52-week high of $190.88. The stock has a fifty day simple moving average of $172.79 and a two-hundred day simple moving average of $169.57. The firm has a market capitalization of $204.06 billion, a PE ratio of 61.12, a PEG ratio of 1.87 and a beta of 1.18.

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

General Electric Announces Dividend

The firm 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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is currently 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.