ICA Group Wealth Management LLC Trims Stock Position in General Electric (NYSE:GE)

ICA Group Wealth Management LLC lessened its stake in General Electric (NYSE:GE) by 75.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310 shares of the conglomerate’s stock after selling 943 shares during the period. ICA Group Wealth Management LLC’s holdings in General Electric were worth $49,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GE. Aveo Capital Partners LLC bought a new stake in shares of General Electric in the 4th quarter worth approximately $203,000. Gryphon Financial Partners LLC lifted its holdings in shares of General Electric by 57.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock worth $1,526,000 after acquiring an additional 4,354 shares during the last quarter. Jump Financial LLC bought a new stake in shares of General Electric in the 4th quarter worth approximately $477,000. Independent Advisor Alliance lifted its holdings in shares of General Electric by 28.6% in the 4th quarter. Independent Advisor Alliance now owns 18,725 shares of the conglomerate’s stock worth $2,390,000 after acquiring an additional 4,169 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of General Electric in the 4th quarter worth approximately $1,193,159,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target for the company. Royal Bank of Canada upped their price target on shares of General Electric from $175.00 to $190.00 and gave the company 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 report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, UBS Group upped their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $191.14.

General Electric Stock Up 5.1 %

Shares of NYSE GE opened at $178.28 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12 month low of $84.42 and a 12 month high of $179.32. The firm has a market capitalization of $195.15 billion, a PE ratio of 58.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The firm has a fifty day simple moving average of $166.57 and a two-hundred day simple moving average of $171.10.

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

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio 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.