Equitable Trust Co. Trims Stock Position in General Electric (NYSE:GE)

Equitable Trust Co. reduced its holdings in General Electric (NYSE:GE) by 19.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,803 shares of the conglomerate’s stock after selling 7,146 shares during the quarter. Equitable Trust Co.’s holdings in General Electric were worth $4,579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GE. Vanguard Group Inc. lifted its position in General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after buying an additional 550,996 shares during the last quarter. Capital International Investors lifted its holdings in shares of General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Capital World Investors boosted its stake in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares in the last quarter. Norges Bank bought a new position in shares of General Electric during the 4th quarter valued at $1,193,159,000. Finally, Canada Pension Plan Investment Board raised its position in General Electric by 221.6% in the 1st 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 period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent research reports. Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Royal Bank of Canada increased their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. UBS Group lifted their target price on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Finally, 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 report on Monday, May 13th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average price target of $190.38.

General Electric Trading Up 0.6 %

Shares of GE traded up $1.04 during trading hours on Friday, reaching $174.62. 5,295,576 shares of the company traded hands, compared to its average volume of 4,164,248. General Electric has a 12 month low of $84.42 and a 12 month high of $177.20. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The company’s fifty day moving average price is $165.18 and its two-hundred day moving average price is $162.66. The company has a market capitalization of $189.34 billion, a price-to-earnings ratio of 57.25, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the business posted $0.68 earnings per share. General Electric’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors 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 0.64%. General Electric’s payout ratio is 36.72%.

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.