11 Capital Partners LP Cuts Stock Position in General Electric (NYSE:GE)

11 Capital Partners LP cut its position in General Electric (NYSE:GE) by 17.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 150,970 shares of the conglomerate’s stock after selling 31,500 shares during the quarter. General Electric comprises 9.3% of 11 Capital Partners LP’s holdings, making the stock its 3rd biggest position. 11 Capital Partners LP’s holdings in General Electric were worth $24,000,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ensign Peak Advisors Inc increased its stake in General Electric by 280.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,485,097 shares of the conglomerate’s stock valued at $236,086,000 after buying an additional 1,095,093 shares during the period. Summit Trail Advisors LLC increased its stake in General Electric by 36.5% during the 2nd quarter. Summit Trail Advisors LLC now owns 12,947 shares of the conglomerate’s stock valued at $2,058,000 after buying an additional 3,461 shares during the period. Ameritas Investment Partners Inc. increased its stake in General Electric by 8.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 12,993 shares of the conglomerate’s stock valued at $2,065,000 after buying an additional 1,021 shares during the period. Sei Investments Co. increased its stake in General Electric by 10.0% during the 2nd quarter. Sei Investments Co. now owns 735,291 shares of the conglomerate’s stock valued at $116,886,000 after buying an additional 66,740 shares during the period. Finally, Pacer Advisors Inc. increased its stake in General Electric by 10.2% during the 2nd quarter. Pacer Advisors Inc. now owns 114,530 shares of the conglomerate’s stock valued at $18,207,000 after buying an additional 10,609 shares during the period. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Up 0.7 %

GE opened at $187.39 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. General Electric has a twelve month low of $84.42 and a twelve month high of $187.99. The firm has a market cap of $205.12 billion, a price-to-earnings ratio of 61.44, a PEG ratio of 1.65 and a beta of 1.18. The firm’s 50-day simple moving average is $168.69 and its 200-day simple moving average is $170.96.

General Electric (NYSE:GE) last posted its quarterly earnings data 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 net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period last year, the company earned $0.68 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. General Electric’s dividend payout ratio is presently 36.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GE shares. Barclays raised their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein initiated coverage on shares of General Electric in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price on the stock. UBS Group lifted their target price 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 lifted their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average price target of $191.36.

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.