General Electric (NYSE:GE) Holdings Lowered by CENTRAL TRUST Co

CENTRAL TRUST Co cut its stake in General Electric (NYSE:GE) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,047 shares of the conglomerate’s stock after selling 554 shares during the period. CENTRAL TRUST Co’s holdings in General Electric were worth $4,346,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GE. Studio Investment Management LLC increased its position in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp bought a new position in General Electric during the third quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new position in General Electric during the second quarter worth about $31,000. Financial Connections Group Inc. bought a new stake in General Electric in the second quarter worth about $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in General Electric in the 1st quarter valued at about $34,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 1.1 %

GE stock opened at $179.64 on Friday. The company has a 50 day moving average of $179.51 and a two-hundred day moving average of $168.15. The company has a market cap of $196.64 billion, a price-to-earnings ratio of 58.90, a PEG 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 quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same period last year, the company earned $0.82 earnings per share. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric’s payout ratio is 36.72%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GE shares. 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 research note on Monday, October 14th. Citigroup upped their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Jefferies Financial Group boosted their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric 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.