SYM FINANCIAL Corp Trims Position in General Electric (NYSE:GE)

SYM FINANCIAL Corp decreased its holdings in shares of General Electric (NYSE:GE) by 44.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 4,665 shares of the conglomerate’s stock after selling 3,666 shares during the period. SYM FINANCIAL Corp’s holdings in General Electric were worth $819,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Davidson Capital Management Inc. purchased a new stake in shares of General Electric during the first quarter worth about $55,000. Kayne Anderson Capital Advisors LP acquired a new stake in General Electric during the 1st quarter valued at approximately $11,917,000. Capital City Trust Co. FL purchased a new position in shares of General Electric during the 1st quarter valued at approximately $205,000. Advisory Services Network LLC grew its position in shares of General Electric by 15.8% during the first quarter. Advisory Services Network LLC now owns 43,060 shares of the conglomerate’s stock worth $7,558,000 after buying an additional 5,888 shares in the last quarter. Finally, Mittelman Wealth Management acquired a new stake in General Electric in the first quarter valued at $240,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

Shares of General Electric stock traded down $1.84 on Friday, hitting $160.08. The company had a trading volume of 2,448,697 shares, compared to its average volume of 7,114,121. General Electric has a 52 week low of $84.42 and a 52 week high of $170.80. The company has a market cap of $175.23 billion, a PE ratio of 52.80, a PEG ratio of 1.75 and a beta of 1.21. The business has a 50-day simple moving average of $162.70 and a 200-day simple moving average of $153.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter in the previous year, the business earned $0.27 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Research analysts expect that General Electric will post 4.02 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. General Electric’s dividend payout ratio is currently 36.72%.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GE. Deutsche Bank Aktiengesellschaft increased their price target on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Royal Bank of Canada increased their target price on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and boosted their price target for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Argus increased their target price on shares of General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Vertical Research started coverage on shares of General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price on the stock. 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, General Electric has a consensus rating of “Moderate Buy” and an average target price of $181.93.

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.