SG Americas Securities LLC Sells 231,420 Shares of General Electric (NYSE:GE)

SG Americas Securities LLC trimmed its holdings in shares of General Electric (NYSE:GE) by 78.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,218 shares of the conglomerate’s stock after selling 231,420 shares during the quarter. SG Americas Securities LLC’s holdings in General Electric were worth $11,733,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Mackenzie Financial Corp grew its stake in General Electric by 10.5% during the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after buying an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC acquired a new stake in General Electric during the second quarter worth about $1,569,000. Vanguard Group Inc. grew its stake in General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after buying an additional 550,996 shares in the last quarter. GAMMA Investing LLC grew its stake in General Electric by 25.4% during the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after buying an additional 3,442 shares in the last quarter. Finally, Senator Investment Group LP acquired a new stake in General Electric during the second quarter worth about $34,973,000. 74.77% of the stock is owned by institutional investors.

General Electric Trading Up 1.7 %

General Electric stock traded up $3.19 during trading hours on Friday, reaching $187.08. 3,978,906 shares of the company’s stock were exchanged, compared to its average volume of 6,511,288. The firm’s 50 day simple moving average is $173.52 and its 200 day simple moving average is $166.17. General Electric has a twelve month low of $84.42 and a twelve month high of $190.88. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $204.78 billion, a PE ratio of 61.32, a PEG ratio of 1.87 and a beta of 1.18.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. Research analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GE. UBS Group raised their price target 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. Royal Bank of Canada raised their price target on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Company raised their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group raised their price target 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. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average target price of $193.00.

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.