Clarius Group LLC Reduces Stake in General Electric (NYSE:GE)

Clarius Group LLC lessened its position in shares of General Electric (NYSE:GE) by 2.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,679 shares of the conglomerate’s stock after selling 119 shares during the quarter. Clarius Group LLC’s holdings in General Electric were worth $1,065,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after buying an additional 550,996 shares during the last quarter. Capital International Investors grew its stake in shares of General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Newport Trust Company LLC purchased a new position in shares of General Electric in the 2nd quarter valued at approximately $2,613,332,000. Capital World Investors grew its stake in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of General Electric by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after purchasing an additional 459,201 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GE. Deutsche Bank Aktiengesellschaft lifted their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. UBS Group lifted 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, Sanford C. Bernstein initiated coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $195.14.

General Electric Trading Up 1.2 %

GE stock traded up $2.23 during trading on Friday, reaching $190.35. 318,441 shares of the stock traded hands, compared to its average volume of 6,401,373. The business’s 50 day moving average price is $174.99 and its 200-day moving average price is $166.53. General Electric has a 52-week low of $84.42 and a 52-week high of $190.88. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The firm has a market capitalization of $206.40 billion, a PE ratio of 44.58, a P/E/G ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last posted its quarterly 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 return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts forecast that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 26.54%.

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.