General Electric (NYSE:GE) Shares Sold by Sargent Investment Group LLC

Sargent Investment Group LLC decreased its holdings in General Electric (NYSE:GE) by 5.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,466 shares of the conglomerate’s stock after selling 907 shares during the quarter. Sargent Investment Group LLC’s holdings in General Electric were worth $2,459,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GE. Peregrine Asset Advisers Inc. raised its holdings in General Electric by 4.5% during the 2nd quarter. Peregrine Asset Advisers Inc. now owns 17,178 shares of the conglomerate’s stock worth $2,731,000 after buying an additional 739 shares during the period. Alpha Financial Partners LLC acquired a new stake in shares of General Electric during the second quarter valued at approximately $213,000. Pekin Hardy Strauss Inc. boosted its stake in General Electric by 16.7% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 5,097 shares of the conglomerate’s stock worth $810,000 after purchasing an additional 730 shares during the period. Terril Brothers Inc. grew its position in General Electric by 12.7% during the 2nd quarter. Terril Brothers Inc. now owns 1,369 shares of the conglomerate’s stock worth $218,000 after purchasing an additional 154 shares in the last quarter. Finally, Wulff Hansen & CO. grew its position in General Electric by 18,693.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock worth $256,581,000 after purchasing an additional 1,605,434 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Jefferies Financial Group lifted their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada upped their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Sanford C. Bernstein initiated coverage on shares of General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $191.14.

General Electric Stock Up 1.8 %

Shares of GE stock opened at $181.46 on Tuesday. The stock’s 50 day simple moving average is $166.93 and its 200 day simple moving average is $171.00. General Electric has a twelve month low of $84.42 and a twelve month high of $181.52. 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 company has a market capitalization of $198.63 billion, a price-to-earnings ratio of 59.50, a PEG ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the business posted $0.68 EPS. General Electric’s revenue was up 3.9% compared to the same quarter last year. As a group, research analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s dividend payout ratio (DPR) is presently 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.