General Electric (NYSE:GE) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its position in General Electric (NYSE:GE) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 229,177 shares of the conglomerate’s stock after selling 563 shares during the period. Nisa Investment Advisors LLC’s holdings in General Electric were worth $36,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Criterion Capital Advisors LLC purchased a new position in shares of General Electric in the 4th quarter valued at $27,000. Capital Analysts LLC grew its stake in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 87 shares during the period. Bfsg LLC purchased a new stake in General Electric in the 4th quarter valued at about $32,000. Kapitalo Investimentos Ltda purchased a new stake in General Electric in the fourth quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. acquired a new position in General Electric during the first quarter worth approximately $34,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GE. Jefferies Financial Group boosted their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Barclays boosted their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Argus lifted their price objective on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $190.38.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

General Electric Stock Up 0.7 %

GE traded up $1.17 on Monday, reaching $170.59. The company’s stock had a trading volume of 1,770,925 shares, compared to its average volume of 6,903,434. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. General Electric has a 1 year low of $84.42 and a 1 year high of $177.20. The business’s 50 day moving average is $163.24 and its 200 day moving average is $160.51. The stock has a market cap of $186.73 billion, a price-to-earnings ratio of 56.04, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. The firm 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 quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. As a group, research analysts forecast that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is currently 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.