Focused Wealth Management Inc Sells 10,814 Shares of General Electric (NYSE:GE)

Focused Wealth Management Inc trimmed its stake in shares of General Electric (NYSE:GE) by 50.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,735 shares of the conglomerate’s stock after selling 10,814 shares during the quarter. Focused Wealth Management Inc’s holdings in General Electric were worth $2,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Tsfg LLC raised its stake in shares of General Electric by 12.8% during the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after acquiring an additional 55 shares during the last quarter. Macroview Investment Management LLC raised its position in 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 purchasing an additional 58 shares during the last quarter. Strategic Advisors LLC lifted its holdings in General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after buying an additional 58 shares during the period. Allegheny Financial Group LTD lifted its holdings in General Electric by 1.4% in the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after buying an additional 61 shares during the period. Finally, New England Research & Management Inc. grew its position in shares of General Electric by 2.2% in the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after buying an additional 63 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Trading Up 2.0 %

NYSE GE opened at $175.26 on Wednesday. General Electric has a 12 month low of $86.83 and a 12 month 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 stock’s fifty day moving average price is $180.29 and its 200-day moving average price is $169.51. The stock has a market cap of $189.68 billion, a P/E ratio of 30.80, a P/E/G ratio of 1.70 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 EPS. As a group, equities analysts forecast that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.64%. General Electric’s payout ratio is currently 19.68%.

Analysts Set New Price Targets

A number of analysts recently commented on GE shares. Royal Bank of Canada dropped their price target 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. Barclays raised their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. UBS Group boosted their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Sanford C. Bernstein lifted their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average 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.