Essex LLC Sells 220 Shares of General Electric (NYSE:GE)

Essex LLC lowered its stake in shares of General Electric (NYSE:GE) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,219 shares of the conglomerate’s stock after selling 220 shares during the quarter. Essex LLC’s holdings in General Electric were worth $4,002,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Studio Investment Management LLC grew 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 acquiring an additional 78 shares during the period. MFA Wealth Advisors LLC bought a new position in General Electric during the second quarter valued at $31,000. Financial Connections Group Inc. purchased a new stake in General Electric in the second quarter worth $32,000. Richardson Financial Services Inc. bought a new stake in shares of General Electric in the first quarter valued at $34,000. Finally, Macroview Investment Management LLC lifted its position in shares of General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GE shares. Wells Fargo & Company upped their price objective 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. UBS Group raised their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Jefferies Financial Group boosted 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. Sanford C. Bernstein lifted their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Barclays increased their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Two equities research 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.86.

General Electric Price Performance

GE opened at $192.61 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $210.83 billion, a P/E ratio of 63.15, a PEG ratio of 1.86 and a beta of 1.18. The stock has a 50-day moving average price of $178.51 and a 200-day moving average price of $167.42. General Electric has a 12-month low of $84.42 and a 12-month high of $194.80.

General Electric (NYSE:GE) last issued its 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 business had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 earnings per share. Equities analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio 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.