NBC Securities Inc. Sells 475 Shares of General Electric (NYSE:GE)

NBC Securities Inc. reduced its stake in General Electric (NYSE:GE) by 9.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,409 shares of the conglomerate’s stock after selling 475 shares during the period. NBC Securities Inc.’s holdings in General Electric were worth $831,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Macroview Investment Management LLC raised its position in shares of General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after buying an additional 58 shares in the last quarter. Strategic Advisors LLC raised its position in shares of General Electric by 2.6% in the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after buying an additional 58 shares in the last quarter. Allegheny Financial Group LTD raised its position in shares of General Electric by 1.4% in the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after buying an additional 61 shares in the last quarter. New England Research & Management Inc. raised its position in shares of General Electric by 2.2% in the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after buying an additional 63 shares in the last quarter. Finally, Certified Advisory Corp raised its position in shares of General Electric by 1.0% in the second quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock valued at $1,045,000 after buying an additional 63 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Performance

Shares of General Electric stock opened at $192.18 on Thursday. 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 twelve month low of $84.42 and a twelve month high of $194.33. The stock has a market cap of $210.36 billion, a price-to-earnings ratio of 63.01, a P/E/G ratio of 1.86 and a beta of 1.18. The company’s fifty day moving average is $177.46 and its 200 day moving average is $166.91.

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, topping the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the previous year, the firm posted $0.68 earnings per share. General Electric’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given 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 0.58%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Analyst Upgrades and Downgrades

GE has been the subject of a number of analyst reports. 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. Sanford C. Bernstein boosted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday. Wells Fargo & Company boosted their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group boosted their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $196.86.

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.