General Electric (NYSE:GE) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. lowered its holdings in General Electric (NYSE:GE) by 80.2% in the second quarter, HoldingsChannel reports. The firm owned 2,491 shares of the conglomerate’s stock after selling 10,060 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in General Electric were worth $396,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Studio Investment Management LLC grew its stake in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric in the second quarter valued at $31,000. Kapitalo Investimentos Ltda purchased a new position in General Electric in the fourth quarter valued at $32,000. Financial Connections Group Inc. acquired a new position in General Electric during the 2nd quarter worth $32,000. Finally, Richardson Financial Services Inc. purchased a new stake in General Electric during the 1st quarter worth about $34,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GE has been the subject of several recent research reports. 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. Sanford C. Bernstein assumed coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target for the company. Wells Fargo & Company raised their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Royal Bank of Canada boosted their target price on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, UBS Group raised their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. 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 currently has an average rating of “Moderate Buy” and an average price target of $191.36.

General Electric Price Performance

Shares of NYSE:GE opened at $185.38 on Monday. General Electric has a one year low of $84.42 and a one year high of $190.88. The stock has a market capitalization of $202.92 billion, a price-to-earnings ratio of 60.78, a PEG ratio of 1.87 and a beta of 1.18. The company has a 50-day simple moving average of $171.51 and a 200-day simple moving average of $169.77. 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 (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the business earned $0.68 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. On average, analysts predict 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. Shareholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. General Electric’s payout ratio 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.