General Electric (NYSE:GE) Shares Sold by FOCUS Wealth Advisors LLC

FOCUS Wealth Advisors LLC lowered its stake in General Electric (NYSE:GE) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,060 shares of the conglomerate’s stock after selling 239 shares during the quarter. General Electric comprises about 1.2% of FOCUS Wealth Advisors LLC’s portfolio, making the stock its 22nd biggest holding. FOCUS Wealth Advisors LLC’s holdings in General Electric were worth $2,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of GE. Vanguard Group Inc. lifted its stake in General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after acquiring an additional 550,996 shares in the last quarter. Capital International Investors increased its stake in General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after purchasing an additional 5,309,543 shares during the period. Newport Trust Company LLC acquired a new stake in shares of General Electric during the second quarter worth about $2,613,332,000. Capital World Investors boosted its stake 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 valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after purchasing an additional 459,201 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the subject of several recent research reports. Royal Bank of Canada raised their price target 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. Sanford C. Bernstein began coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price for the company. UBS Group boosted their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Jefferies Financial Group lifted their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Wells Fargo & Company boosted their price objective on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.14.

General Electric Price Performance

Shares of NYSE GE opened at $191.16 on Friday. The stock has a fifty day moving average price of $175.61 and a 200 day moving average price of $166.60. General Electric has a 1-year low of $84.42 and a 1-year high of $191.76. 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 company has a market cap of $207.28 billion, a PE ratio of 45.30, a P/E/G ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share. Sell-side analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued 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 0.59%. General Electric’s dividend payout ratio is presently 26.54%.

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.