Vicus Capital Decreases Stock Holdings in General Electric (NYSE:GE)

Vicus Capital cut its holdings in shares of General Electric (NYSE:GE) by 38.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,274 shares of the conglomerate’s stock after selling 785 shares during the quarter. Vicus Capital’s holdings in General Electric were worth $240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Studio Investment Management LLC increased its stake in shares of General Electric by 97.5% in the second 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. Toth Financial Advisory Corp bought a new stake in General Electric during the 3rd quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric during the second quarter worth $31,000. Financial Connections Group Inc. bought a new position in shares of General Electric in the second quarter worth $32,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of General Electric in the first quarter valued at $34,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GE has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Citigroup upped their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted their target price 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. UBS Group increased their price target on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Finally, Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.53.

General Electric Stock Down 9.1 %

Shares of GE stock opened at $176.59 on Wednesday. The stock has a market cap of $193.30 billion, a P/E ratio of 57.90, a P/E/G ratio of 1.86 and a beta of 1.18. General Electric has a 12 month low of $84.58 and a 12 month high of $194.80. The company has a 50 day simple moving average of $179.24 and a two-hundred day simple moving average of $168.05. 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 (NYSE:GE) last released its quarterly earnings data 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. The firm had revenue of $9.09 billion during 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 quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. On average, research analysts expect that General Electric will post 4.2 earnings per share for the current 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 paid 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 yield of 0.63%. General Electric’s payout ratio is 36.72%.

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.