West Michigan Advisors LLC Reduces Stock Position in General Electric (NYSE:GE)

West Michigan Advisors LLC lessened its holdings in shares of General Electric (NYSE:GE) by 15.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,370 shares of the conglomerate’s stock after selling 597 shares during the period. West Michigan Advisors LLC’s holdings in General Electric were worth $636,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Studio Investment Management LLC increased its position 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 valued at $25,000 after buying an additional 78 shares during the period. Toth Financial Advisory Corp purchased a new position in shares of General Electric in the 3rd quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new stake in shares of General Electric during the second quarter valued at approximately $31,000. Financial Connections Group Inc. purchased a new stake in General Electric in the second quarter worth $32,000. Finally, Richardson Financial Services Inc. bought a new position in General Electric in the first quarter worth $34,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GE shares. UBS Group lifted their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday. Jefferies Financial Group lifted their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Melius Research raised their price target on General Electric from $194.00 to $202.00 in a report on Tuesday. Royal Bank of Canada cut their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Trading Down 1.1 %

GE opened at $179.64 on Friday. General Electric has a 12 month low of $84.58 and a 12 month high of $194.80. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a 50-day moving average of $179.51 and a 200 day moving average of $168.15. The firm has a market cap of $196.64 billion, a P/E ratio of 58.90, a P/E/G ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period last year, the company earned $0.82 earnings per share. General Electric’s revenue was up 5.8% on a year-over-year basis. As a group, research analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The company 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 $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

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.