Armstrong Henry H Associates Inc. Cuts Stock Holdings in General Electric (NYSE:GE)

Armstrong Henry H Associates Inc. reduced its stake in General Electric (NYSE:GE) by 0.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,506 shares of the conglomerate’s stock after selling 96 shares during the quarter. General Electric makes up 0.2% of Armstrong Henry H Associates Inc.’s investment portfolio, making the stock its 22nd largest holding. Armstrong Henry H Associates Inc.’s holdings in General Electric were worth $2,358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Studio Investment Management LLC boosted its holdings in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric during the second quarter valued at approximately $31,000. Richardson Financial Services Inc. bought a new stake in General Electric during the first quarter worth $34,000. Financial Connections Group Inc. purchased a new position in General Electric in the second quarter worth $32,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in General Electric in the first quarter worth $37,000. 74.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price objective on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Barclays increased their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company boosted their target price on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group raised their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.36.

General Electric Trading Up 0.1 %

Shares of GE opened at $186.42 on Thursday. General Electric has a 1-year low of $84.42 and a 1-year high of $190.88. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm’s 50-day moving average price is $172.79 and its 200-day moving average price is $169.57. The firm has a market capitalization of $204.06 billion, a price-to-earnings ratio of 61.12, a PEG ratio of 1.87 and a beta of 1.18.

General Electric (NYSE:GE) last posted 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 firm had revenue of $9.09 billion for 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 business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 EPS. Sell-side analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

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