Symmetry Partners LLC Sells 9,687 Shares of General Electric (NYSE:GE)

Symmetry Partners LLC reduced its position in General Electric (NYSE:GE) by 85.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,630 shares of the conglomerate’s stock after selling 9,687 shares during the quarter. Symmetry Partners LLC’s holdings in General Electric were worth $307,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. F M Investments LLC bought a new position in shares of General Electric in the third quarter valued at $297,000. BluePath Capital Management LLC lifted its position in General Electric by 6.8% in the 3rd quarter. BluePath Capital Management LLC now owns 1,373 shares of the conglomerate’s stock valued at $259,000 after acquiring an additional 87 shares in the last quarter. Silvant Capital Management LLC boosted its stake in General Electric by 56.5% during the 3rd quarter. Silvant Capital Management LLC now owns 208,588 shares of the conglomerate’s stock valued at $39,373,000 after purchasing an additional 75,327 shares during the last quarter. Capital Advisors Inc. OK increased its holdings in General Electric by 33.9% during the 3rd quarter. Capital Advisors Inc. OK now owns 5,490 shares of the conglomerate’s stock worth $1,035,000 after purchasing an additional 1,389 shares in the last quarter. Finally, Americana Partners LLC raised its stake in shares of General Electric by 4.4% in the third quarter. Americana Partners LLC now owns 41,393 shares of the conglomerate’s stock worth $7,806,000 after purchasing an additional 1,742 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Price Performance

Shares of GE traded down $0.08 during midday trading on Friday, hitting $171.70. 3,984,932 shares of the company traded hands, compared to its average volume of 6,328,877. General Electric has a one year low of $85.89 and a one year high of $194.80. The firm has a market cap of $185.83 billion, a P/E ratio of 30.18, a PEG ratio of 1.72 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a 50-day moving average of $180.20 and a 200-day moving average of $169.01.

General Electric (NYSE:GE) last posted 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 business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the firm posted $0.82 EPS. General Electric’s revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts predict that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. General Electric’s payout ratio is currently 19.68%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GE shares. Sanford C. Bernstein raised their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. UBS Group boosted their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Bank of America raised their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup boosted their price target 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. Finally, StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.