Taurus Asset Management LLC Has $422,000 Position in General Electric (NYSE:GE)

Taurus Asset Management LLC reduced its stake in General Electric (NYSE:GE) by 19.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,657 shares of the conglomerate’s stock after selling 650 shares during the quarter. Taurus Asset Management LLC’s holdings in General Electric were worth $422,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aveo Capital Partners LLC acquired a new position in shares of General Electric during the fourth quarter worth about $203,000. Gryphon Financial Partners LLC boosted its position in General Electric by 57.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock worth $1,526,000 after acquiring an additional 4,354 shares during the last quarter. Jump Financial LLC bought a new position in shares of General Electric during the 4th quarter worth approximately $477,000. Independent Advisor Alliance raised its holdings in shares of General Electric by 28.6% in the fourth quarter. Independent Advisor Alliance now owns 18,725 shares of the conglomerate’s stock valued at $2,390,000 after purchasing an additional 4,169 shares during the last quarter. Finally, ING Groep NV lifted its position in shares of General Electric by 24.6% in the fourth quarter. ING Groep NV now owns 205,303 shares of the conglomerate’s stock worth $26,203,000 after purchasing an additional 40,573 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GE shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Barclays upped their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Jefferies Financial Group raised their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. UBS Group boosted their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Finally, StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Trading Up 5.1 %

Shares of GE stock opened at $178.28 on Friday. General Electric has a 12-month low of $84.42 and a 12-month high of $179.32. The company has a market capitalization of $195.15 billion, a PE ratio of 58.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The firm has a 50 day moving average price of $166.57 and a two-hundred day moving average price of $171.27. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released its quarterly earnings results 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 business 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 firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. As a group, analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. 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.