MRA Advisory Group Lowers Stock Holdings in General Electric (NYSE:GE)

MRA Advisory Group lessened its holdings in shares of General Electric (NYSE:GE) by 10.1% during the third quarter, HoldingsChannel reports. The firm owned 2,353 shares of the conglomerate’s stock after selling 264 shares during the quarter. MRA Advisory Group’s holdings in General Electric were worth $444,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Newport Trust Company LLC acquired a new stake in General Electric in the 2nd quarter worth about $2,613,332,000. Capital World Investors boosted its position in shares of General Electric by 2,818.1% in 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 last quarter. Capital International Investors grew its holdings in 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 purchasing an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board increased its position in General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in General Electric during the second quarter worth approximately $580,200,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on GE shares. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company lifted their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. UBS Group increased their target price on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Finally, Barclays lifted their price target 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. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $193.00.

General Electric Stock Down 1.4 %

Shares of General Electric stock opened at $183.89 on Friday. General Electric has a 1-year low of $84.42 and a 1-year high of $190.88. The company has a market capitalization of $201.29 billion, a PE ratio of 60.29, a P/E/G ratio of 1.87 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The business has a 50-day moving average of $173.17 and a 200-day moving average of $169.67.

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, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the firm earned $0.68 EPS. General Electric’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities analysts forecast that General Electric will post 4.2 EPS 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. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. General Electric’s dividend payout ratio (DPR) is 36.72%.

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.