CX Institutional Has $1.29 Million Stock Position in General Electric (NYSE:GE)

CX Institutional reduced its holdings in shares of General Electric (NYSE:GE) by 18.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,838 shares of the conglomerate’s stock after selling 1,576 shares during the quarter. CX Institutional’s holdings in General Electric were worth $1,290,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Studio Investment Management LLC increased its holdings in shares of 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 buying an additional 78 shares in the last quarter. MFA Wealth Advisors LLC acquired a new position in General Electric in the 2nd quarter worth about $31,000. Kapitalo Investimentos Ltda bought a new position in General Electric in the fourth quarter valued at about $32,000. Financial Connections Group Inc. acquired a new stake in shares of General Electric during the second quarter valued at about $32,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of General Electric during the first quarter worth about $34,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on GE shares. Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Wells Fargo & Company lifted their price target on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Barclays increased their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, UBS Group lifted their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $196.86.

General Electric Price Performance

Shares of NYSE GE opened at $192.18 on Thursday. 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 $177.46 and its 200-day moving average price is $166.91. The firm has a market capitalization of $210.36 billion, a P/E ratio of 63.01, a P/E/G ratio of 1.86 and a beta of 1.18. General Electric has a 1-year low of $84.42 and a 1-year high of $194.33.

General Electric (NYSE:GE) last posted its quarterly 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. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion for 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 for the quarter was up 3.9% on a year-over-year basis. Equities research analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm 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 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 0.58%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

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.