Thrivent Financial for Lutherans Sells 1,038 Shares of General Electric (NYSE:GE)

Thrivent Financial for Lutherans lessened its position in shares of General Electric (NYSE:GE) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,029 shares of the conglomerate’s stock after selling 1,038 shares during the quarter. Thrivent Financial for Lutherans’ holdings in General Electric were worth $9,066,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Aveo Capital Partners LLC acquired a new stake in shares of General Electric during the 4th quarter valued at about $203,000. Gryphon Financial Partners LLC grew its stake 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 valued at $1,526,000 after purchasing an additional 4,354 shares during the period. Nations Financial Group Inc. IA ADV raised its holdings in shares of General Electric by 5.7% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,059 shares of the conglomerate’s stock worth $263,000 after buying an additional 111 shares in the last quarter. Hilltop Holdings Inc. lifted its position in shares of General Electric by 36.5% during the 4th quarter. Hilltop Holdings Inc. now owns 2,805 shares of the conglomerate’s stock worth $358,000 after buying an additional 750 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its stake in General Electric by 1.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 73,302 shares of the conglomerate’s stock valued at $9,356,000 after buying an additional 1,022 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of NYSE:GE opened at $189.34 on Thursday. The stock has a market capitalization of $205.30 billion, a P/E ratio of 62.08, a P/E/G ratio of 1.87 and a beta of 1.18. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1-year low of $84.42 and a 1-year high of $190.88. The business has a 50-day moving average price of $169.81 and a two-hundred day moving average price of $170.28.

General Electric (NYSE:GE) last posted its quarterly earnings results 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 the consensus estimate of $8.44 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. General Electric’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.59%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GE shares. Jefferies Financial Group increased their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft increased their target price on shares of General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. UBS Group boosted their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Sanford C. Bernstein assumed coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective for the company. Finally, Wells Fargo & Company boosted 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 equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.36.

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.