Greenwood Capital Associates LLC Lowers Position in General Electric (NYSE:GE)

Greenwood Capital Associates LLC lowered its stake in shares of General Electric (NYSE:GE) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,542 shares of the conglomerate’s stock after selling 937 shares during the period. Greenwood Capital Associates LLC’s holdings in General Electric were worth $4,817,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Studio Investment Management LLC boosted its holdings 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 worth $25,000 after purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp acquired a new position in shares of General Electric during the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric during the 3rd quarter valued at about $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric in the second quarter valued at about $31,000. Finally, Financial Connections Group Inc. acquired a new stake in General Electric during the second quarter worth $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Bank of America lifted their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Citigroup lifted their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Price Performance

General Electric stock opened at $171.76 on Tuesday. The stock has a market capitalization of $185.89 billion, a P/E ratio of 30.19, a P/E/G ratio of 1.70 and a beta of 1.19. General Electric has a 12-month low of $86.83 and a 12-month high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The firm’s 50-day moving average is $180.21 and its two-hundred day moving average is $169.32.

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

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

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.