Cravens & Co Advisors LLC Sells 486 Shares of General Electric (NYSE:GE)

Cravens & Co Advisors LLC trimmed its holdings in General Electric (NYSE:GE) by 6.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,175 shares of the conglomerate’s stock after selling 486 shares during the period. General Electric comprises about 0.8% of Cravens & Co Advisors LLC’s investment portfolio, making the stock its 24th biggest position. Cravens & Co Advisors LLC’s holdings in General Electric were worth $1,141,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Great Valley Advisor Group Inc. grew its stake in shares of General Electric by 1.7% during the fourth quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after buying an additional 74 shares during the last quarter. Fisher Asset Management LLC boosted its position in General Electric by 7.2% during the 4th quarter. Fisher Asset Management LLC now owns 13,791 shares of the conglomerate’s stock valued at $1,760,000 after acquiring an additional 929 shares in the last quarter. First Horizon Advisors Inc. boosted its position in General Electric by 2.6% during the 4th quarter. First Horizon Advisors Inc. now owns 5,368 shares of the conglomerate’s stock valued at $685,000 after acquiring an additional 134 shares in the last quarter. Aveo Capital Partners LLC bought a new stake in General Electric during the 4th quarter valued at $203,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in General Electric by 10.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 11,556 shares of the conglomerate’s stock valued at $1,475,000 after acquiring an additional 1,096 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on GE shares. UBS Group increased their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Wells Fargo & Company increased their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Royal Bank of Canada increased their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Jefferies Financial Group increased their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $190.38.

General Electric Price Performance

NYSE:GE opened at $174.62 on Monday. 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 has a 52 week low of $84.42 and a 52 week high of $177.20. The stock has a market capitalization of $189.34 billion, a PE ratio of 57.25, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21. The stock’s 50-day moving average price is $165.18 and its 200-day moving average price is $162.78.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping 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 company posted $0.68 EPS. The business’s revenue was up 3.9% on a year-over-year basis. As a group, equities analysts expect that General Electric will post 4.2 EPS for the current fiscal 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 given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is presently 36.72%.

General Electric Company 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.