General Electric (NYSE:GE) Shares Sold by Rockland Trust Co.

Rockland Trust Co. lessened its holdings in shares of General Electric (NYSE:GE) by 4.6% in the third quarter, HoldingsChannel reports. The fund owned 47,908 shares of the conglomerate’s stock after selling 2,300 shares during the period. Rockland Trust Co.’s holdings in General Electric were worth $9,034,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after purchasing an additional 550,996 shares during the period. Capital International Investors lifted its holdings in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares during the period. Newport Trust Company LLC bought a new position in General Electric during the second quarter valued at about $2,613,332,000. Capital World Investors grew its holdings in General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after acquiring an additional 12,312,648 shares during the period. Finally, Legal & General Group Plc raised its position in General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after acquiring an additional 459,201 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 1.4 %

GE stock opened at $183.89 on Friday. General Electric has a 12-month low of $84.42 and a 12-month high of $190.88. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The company has a market cap of $201.29 billion, a price-to-earnings ratio of 60.29, a PEG ratio of 1.87 and a beta of 1.18. The company has a 50 day moving average of $173.17 and a two-hundred day moving average of $169.67.

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

General Electric Dividend Announcement

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 issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is 36.72%.

Wall Street Analysts Forecast Growth

GE has been the subject of several research reports. Barclays raised their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday. 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. UBS Group lifted their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Finally, StockNews.com lowered shares of 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 company. According to data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average target price of $193.00.

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.