General Electric (NYSE:GE) Shares Sold by JB Capital LLC

JB Capital LLC trimmed its holdings in General Electric (NYSE:GE) by 2.8% during the second quarter, HoldingsChannel.com reports. The firm owned 2,885 shares of the conglomerate’s stock after selling 82 shares during the period. JB Capital LLC’s holdings in General Electric were worth $459,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Capital World Investors increased its position in 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 buying an additional 12,312,648 shares during the period. Norges Bank acquired a new stake in General Electric in the fourth quarter worth $1,193,159,000. Capital International Investors increased its position in 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 buying an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board increased its position in 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 buying an additional 4,907,530 shares during the period. Finally, Evergreen Quality Fund GP Ltd. bought a new position in shares of General Electric in the first quarter worth $385,745,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Up 0.9 %

General Electric stock traded up $1.54 during mid-day trading on Friday, hitting $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 firm’s 50 day moving average is $164.39 and its 200 day moving average is $161.35. The company has a market cap of $187.42 billion, a PE ratio of 56.10, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. General Electric has a 52-week low of $84.42 and a 52-week high of $177.20.

General Electric (NYSE:GE) last announced its quarterly earnings data 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. The firm had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 EPS. On average, analysts anticipate that General Electric will post 4.15 earnings per share for the current year.

General Electric Dividend Announcement

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

Analyst Ratings Changes

GE has been the subject of several recent analyst reports. Barclays increased their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Company raised their target price on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. UBS Group raised their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, Jefferies Financial Group raised 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. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.