Courier Capital LLC Sells 666 Shares of General Electric (NYSE:GE)

Courier Capital LLC lowered its position in General Electric (NYSE:GE) by 7.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,771 shares of the conglomerate’s stock after selling 666 shares during the quarter. Courier Capital LLC’s holdings in General Electric were worth $1,235,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Criterion Capital Advisors LLC bought a new position in General Electric during the 4th quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric during the second quarter worth about $31,000. Bfsg LLC purchased a new position in shares of General Electric in the 4th quarter valued at approximately $32,000. Kapitalo Investimentos Ltda acquired a new stake in General Electric in the 4th quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. purchased a new stake in General Electric during the 1st quarter worth approximately $34,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GE. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada lifted their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Jefferies Financial Group increased their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Argus raised their target price on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, UBS Group boosted their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $190.38.

General Electric Stock Performance

GE stock traded down $1.29 during trading on Thursday, reaching $169.91. 1,381,432 shares of the company’s stock were exchanged, compared to its average volume of 6,842,218. The company’s fifty day moving average price is $163.80 and its 200-day moving average price is $161.06. 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 firm has a market cap of $185.98 billion, a PE ratio of 56.06, a P/E/G ratio of 1.70 and a beta of 1.21. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. On average, research analysts expect that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is currently 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.