L & S Advisors Inc Reduces Position in General Electric (NYSE:GE)

L & S Advisors Inc lowered its position in General Electric (NYSE:GE) by 96.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,344 shares of the conglomerate’s stock after selling 36,456 shares during the period. L & S Advisors Inc’s holdings in General Electric were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Studio Investment Management LLC grew its holdings in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in General Electric during the 2nd quarter worth approximately $31,000. Kapitalo Investimentos Ltda purchased a new position in shares of General Electric in the 4th quarter valued at approximately $32,000. Financial Connections Group Inc. acquired a new position in shares of General Electric in the second quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of General Electric during the first quarter worth $34,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GE. UBS Group boosted their price objective 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. Jefferies Financial Group boosted their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Sanford C. Bernstein assumed coverage on General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price on the stock. Finally, Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.14.

General Electric Trading Down 0.6 %

Shares of GE stock opened at $180.32 on Wednesday. The stock has a market cap of $197.38 billion, a P/E ratio of 59.12, a P/E/G ratio of 1.65 and a beta of 1.18. 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 fifty-two week low of $84.42 and a fifty-two week high of $182.43. The business has a fifty day simple moving average of $167.28 and a 200-day simple moving average of $170.87.

General Electric (NYSE:GE) last posted its earnings results 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. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period last year, the firm posted $0.68 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric’s dividend 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.