Carret Asset Management LLC Decreases Holdings in General Electric (NYSE:GE)

Carret Asset Management LLC lowered its position in General Electric (NYSE:GE) by 5.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,181 shares of the conglomerate’s stock after selling 238 shares during the quarter. Carret Asset Management LLC’s holdings in General Electric were worth $788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Tsfg LLC lifted its stake in shares of General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after acquiring an additional 55 shares during the last quarter. Macroview Investment Management LLC increased its stake in General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares during the period. Strategic Advisors LLC lifted its position in General Electric by 2.6% in the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after purchasing an additional 58 shares during the last quarter. Allegheny Financial Group LTD boosted its stake in shares of General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after purchasing an additional 61 shares during the period. Finally, New England Research & Management Inc. grew its holdings in shares of General Electric by 2.2% in the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after purchasing an additional 63 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Price Performance

Shares of GE stock opened at $179.10 on Monday. The business’s fifty day moving average is $179.90 and its 200 day moving average is $168.56. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock has a market cap of $194.20 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 1.74 and a beta of 1.18. General Electric has a twelve month low of $84.58 and a twelve month high of $194.80.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the firm earned $0.82 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. Research analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. General Electric’s payout ratio is 19.68%.

Analyst Ratings Changes

GE has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company increased their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Barclays raised their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Melius Research upped their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Bank of America lifted their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

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.