General Electric (NYSE:GE) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel lowered its position in General Electric (NYSE:GE) by 7.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,609 shares of the conglomerate’s stock after selling 273 shares during the quarter. Carnegie Investment Counsel’s holdings in General Electric were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. USA Financial Formulas boosted its holdings in shares of General Electric by 24,042.9% in the fourth quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock valued at $1,294,000 after acquiring an additional 10,098 shares in the last quarter. Rathbones Group PLC grew its holdings in General Electric by 2.7% during the fourth quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock worth $28,821,000 after acquiring an additional 5,997 shares during the period. Dimensional Fund Advisors LP raised its position in General Electric by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate’s stock worth $534,123,000 after acquiring an additional 318,245 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after purchasing an additional 550,996 shares in the last quarter. Finally, Sheets Smith Wealth Management acquired a new position in shares of General Electric in the 4th quarter worth approximately $3,959,000. Institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the transaction, the senior vice president now owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

General Electric Trading Up 0.6 %

Shares of GE stock traded up $1.08 on Wednesday, reaching $171.07. 1,115,048 shares of the stock were exchanged, compared to its average volume of 6,857,069. 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 one year low of $84.42 and a one year high of $177.20. The stock has a market cap of $187.25 billion, a PE ratio of 56.11, a P/E/G ratio of 1.70 and a beta of 1.21. The stock has a 50 day moving average price of $163.60 and a 200 day moving average price of $160.99.

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, topping the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 EPS. Equities research analysts forecast that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors 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 0.65%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is presently 36.72%.

Analyst Upgrades and Downgrades

GE has been the topic of several recent research reports. Argus lifted their price target on shares of General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. UBS Group upped their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Jefferies Financial Group lifted their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Wells Fargo & Company upped their target price on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group increased their target price on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $190.38.

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.