Courier Capital LLC Sells 589 Shares of General Electric (NYSE:GE)

Courier Capital LLC trimmed its stake in General Electric (NYSE:GE) by 7.6% during the 3rd quarter, Holdings Channel reports. The firm owned 7,182 shares of the conglomerate’s stock after selling 589 shares during the quarter. Courier Capital LLC’s holdings in General Electric were worth $1,354,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Studio Investment Management LLC increased its position 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 during the last quarter. Toth Financial Advisory Corp bought a new position in shares of General Electric in the third quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new position in General Electric during the second quarter valued at approximately $31,000. Financial Connections Group Inc. bought a new position in General Electric during the second quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. bought a new position in General Electric during the first quarter valued at approximately $34,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Performance

Shares of GE stock opened at $181.78 on Thursday. The stock has a fifty day moving average of $179.51 and a 200 day moving average of $168.15. General Electric has a 52 week low of $84.58 and a 52 week high of $194.80. The firm has a market capitalization of $198.98 billion, a price-to-earnings ratio of 59.60, a PEG ratio of 1.86 and a beta of 1.18. 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 results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the firm posted $0.82 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. As a group, research analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The firm 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. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Jefferies Financial Group increased their price target 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. Bank of America increased their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Barclays increased 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. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus target price of $200.93.

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.