Asset Dedication LLC Sells 131 Shares of General Electric (NYSE:GE)

Asset Dedication LLC decreased its position in General Electric (NYSE:GE) by 13.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 822 shares of the conglomerate’s stock after selling 131 shares during the quarter. Asset Dedication LLC’s holdings in General Electric were worth $155,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Studio Investment Management LLC grew its holdings in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares in the last quarter. MFA Wealth Advisors LLC acquired a new position in shares of General Electric during the 2nd quarter worth approximately $31,000. Kapitalo Investimentos Ltda bought a new stake in shares of General Electric during the 4th quarter worth approximately $32,000. Financial Connections Group Inc. acquired a new stake in shares of General Electric in the 2nd quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. bought a new position in shares of General Electric in the first quarter valued at $34,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on GE. Sanford C. Bernstein upped their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday. Jefferies Financial Group raised 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. Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company raised their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada boosted their target price on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $196.86.

General Electric Price Performance

NYSE:GE opened at $192.64 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. The firm has a market cap of $210.87 billion, a price-to-earnings ratio of 63.16, a P/E/G ratio of 1.86 and a beta of 1.18. General Electric has a 52 week low of $84.42 and a 52 week high of $194.80. The firm’s 50-day simple moving average is $178.01 and its 200 day simple moving average is $167.09.

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

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is currently 36.72%.

About General Electric

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.