Monarch Capital Management Inc. Has $1.60 Million Holdings in General Electric (NYSE:GE)

Monarch Capital Management Inc. cut its stake in shares of General Electric (NYSE:GE) by 8.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,071 shares of the conglomerate’s stock after selling 890 shares during the period. Monarch Capital Management Inc.’s holdings in General Electric were worth $1,601,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after purchasing an additional 550,996 shares during the last quarter. Capital International Investors grew its stake in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Capital World Investors grew its stake in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Norges Bank bought a new stake in shares of General Electric in the fourth quarter worth $1,193,159,000. Finally, Canada Pension Plan Investment Board grew its stake in shares of General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Up 0.9 %

Shares of GE traded up $1.54 on Friday, reaching $171.22. The company’s stock had a trading volume of 4,058,017 shares, compared to its average volume of 6,834,152. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a twelve month low of $84.42 and a twelve month high of $177.20. The stock has a market capitalization of $187.42 billion, a PE ratio of 56.14, a PEG ratio of 1.70 and a beta of 1.21. The firm has a fifty day moving average of $164.39 and a 200-day moving average of $161.52.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. Equities analysts predict that General Electric will post 4.15 EPS for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a $0.28 dividend. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Analyst Upgrades and Downgrades

GE has been the topic of a number of research analyst reports. Barclays upped their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. UBS Group upped their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Royal Bank of Canada upped their price target on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped 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. Finally, StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $190.38.

General Electric 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.