First PREMIER Bank Sells 354 Shares of General Electric (NYSE:GE)

First PREMIER Bank lessened its holdings in General Electric (NYSE:GE) by 9.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,521 shares of the conglomerate’s stock after selling 354 shares during the period. First PREMIER Bank’s holdings in General Electric were worth $664,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Studio Investment Management LLC grew its holdings 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 in the last quarter. MFA Wealth Advisors LLC acquired a new stake in General Electric in the second quarter valued at about $31,000. Richardson Financial Services Inc. acquired a new stake in General Electric in the first quarter valued at about $34,000. Financial Connections Group Inc. acquired a new stake in General Electric in the second quarter valued at about $32,000. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of General Electric during the first quarter valued at about $37,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.1 %

Shares of NYSE:GE opened at $187.32 on Wednesday. The stock has a market cap of $205.04 billion, a price-to-earnings ratio of 61.47, a PEG ratio of 1.87 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a 12-month low of $84.42 and a 12-month high of $190.88. The business’s 50 day moving average is $174.24 and its 200 day moving average is $166.21.

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

General Electric Announces Dividend

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

Analysts Set New Price Targets

GE has been the subject of a number of analyst reports. Sanford C. Bernstein initiated 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. Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada raised 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. Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company lifted their target price on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $193.00.

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.