Worth Asset Management LLC Decreases Stock Holdings in General Electric (NYSE:GE)

Worth Asset Management LLC trimmed its holdings in General Electric (NYSE:GE) by 69.5% during the third quarter, HoldingsChannel reports. The firm owned 4,817 shares of the conglomerate’s stock after selling 10,986 shares during the period. Worth Asset Management LLC’s holdings in General Electric were worth $908,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of GE. Studio Investment Management LLC raised 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 buying an additional 78 shares during the period. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric during the 2nd quarter valued at approximately $31,000. Kapitalo Investimentos Ltda purchased a new stake in shares of General Electric during the 4th quarter valued at approximately $32,000. Financial Connections Group Inc. purchased a new stake in shares of General Electric during the 2nd quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of General Electric during the 1st quarter valued at approximately $34,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GE has been the topic of several analyst reports. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company lifted 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. Barclays lifted their target price 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Jefferies Financial Group lifted their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average target price of $195.14.

General Electric Stock Performance

NYSE:GE opened at $188.00 on Friday. The company has a fifty day simple moving average of $174.99 and a two-hundred day simple moving average of $166.53. The company has a market cap of $203.85 billion, a price-to-earnings ratio of 44.58, a price-to-earnings-growth 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 has a 52 week low of $84.42 and a 52 week high of $190.88.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 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 the consensus estimate 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 was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. As a group, equities analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given 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 yield of 0.60%. General Electric’s dividend payout ratio (DPR) is presently 26.54%.

General Electric Company 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.