Mutual of America Capital Management LLC Sells 4,924 Shares of General Electric (NYSE:GE)

Mutual of America Capital Management LLC lessened its position in General Electric (NYSE:GE) by 3.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 141,536 shares of the conglomerate’s stock after selling 4,924 shares during the period. Mutual of America Capital Management LLC’s holdings in General Electric were worth $22,500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GE. Aveo Capital Partners LLC bought a new position in shares of General Electric in the fourth quarter worth approximately $203,000. Gryphon Financial Partners LLC lifted its stake in shares of General Electric by 57.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock worth $1,526,000 after buying an additional 4,354 shares in the last quarter. Jump Financial LLC bought a new position in shares of General Electric in the fourth quarter worth approximately $477,000. Sachetta LLC bought a new position in shares of General Electric in the fourth quarter worth approximately $167,000. Finally, Corient Private Wealth LLC lifted its stake in shares of General Electric by 8.0% in the fourth quarter. Corient Private Wealth LLC now owns 229,376 shares of the conglomerate’s stock worth $29,275,000 after buying an additional 16,952 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the topic of a number of research analyst reports. Barclays increased 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. UBS Group increased their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Sanford C. Bernstein initiated coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price for the company. Finally, Wells Fargo & Company upped their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Stock Performance

Shares of NYSE GE opened at $180.32 on Wednesday. The firm has a fifty day moving average price of $167.28 and a 200-day moving average price of $170.87. 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 stock has a market cap of $197.38 billion, a PE ratio of 59.12, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. General Electric has a 1 year low of $84.42 and a 1 year high of $182.43.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) 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 analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s dividend payout ratio (DPR) is presently 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.