Forsta AP Fonden Sells 28,600 Shares of General Electric (NYSE:GE)

Forsta AP Fonden trimmed its position in shares of General Electric (NYSE:GE) by 8.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 295,825 shares of the conglomerate’s stock after selling 28,600 shares during the period. Forsta AP Fonden’s holdings in General Electric were worth $47,027,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Aveo Capital Partners LLC bought a new position in General Electric during the 4th quarter worth approximately $203,000. Gryphon Financial Partners LLC raised its holdings in General Electric by 57.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock valued at $1,526,000 after buying an additional 4,354 shares during the last quarter. Principal Securities Inc. bought a new stake in General Electric in the 4th quarter worth $441,000. Cary Street Partners Investment Advisory LLC grew its holdings in General Electric by 7.7% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 3,145 shares of the conglomerate’s stock worth $401,000 after acquiring an additional 226 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of General Electric in the fourth quarter valued at about $477,000. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GE. UBS Group increased their target price on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company lifted their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Sanford C. Bernstein initiated coverage on shares of General Electric in a research report on Tuesday. They set an “outperform” rating and a $201.00 price objective on the stock. Finally, Jefferies Financial Group increased their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $191.14.

General Electric Price Performance

NYSE GE opened at $166.28 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The business’s fifty day moving average is $166.08 and its 200 day moving average is $171.54. The company has a market capitalization of $182.01 billion, a PE ratio of 54.52, a price-to-earnings-growth ratio of 1.60 and a beta of 1.18. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $177.20.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (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 company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period in the prior year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Sell-side analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.67%. General Electric’s payout ratio is presently 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.