General Electric (NYSE:GE) Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp decreased its holdings in General Electric (NYSE:GE) by 0.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,916 shares of the conglomerate’s stock after selling 196 shares during the quarter. Heritage Investors Management Corp’s holdings in General Electric were worth $4,321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GE. Studio Investment Management LLC raised its stake in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the period. Toth Financial Advisory Corp purchased a new position in General Electric in the third quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric during the third quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric in the second quarter worth about $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of General Electric in the second quarter valued at about $32,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of GE stock traded up $0.91 during trading on Tuesday, hitting $172.67. The company’s stock had a trading volume of 119,034 shares, compared to its average volume of 6,289,969. The company has a market cap of $186.88 billion, a PE ratio of 30.19, a P/E/G ratio of 1.70 and a beta of 1.19. General Electric has a 52 week low of $86.83 and a 52 week high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The business has a fifty day moving average of $180.21 and a 200-day moving average of $169.32.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the previous year, the business earned $0.82 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. As a group, research analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. General Electric’s payout ratio is 19.68%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. UBS Group boosted their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius Research boosted their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Barclays raised their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Citigroup boosted their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada lowered their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.