Pathway Financial Advisers LLC Has $116,000 Stock Position in General Electric (NYSE:GE)

Pathway Financial Advisers LLC lessened its stake in shares of General Electric (NYSE:GE) by 8.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 616 shares of the conglomerate’s stock after selling 58 shares during the quarter. Pathway Financial Advisers LLC’s holdings in General Electric were worth $116,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Newport Trust Company LLC bought a new stake in General Electric during the 2nd quarter worth $2,613,332,000. Capital World Investors grew its holdings in shares of General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Capital International Investors increased its stake in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board raised its holdings in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in General Electric during the 2nd quarter worth approximately $580,200,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on GE. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada lowered their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Bank of America upped their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays raised their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, UBS Group increased their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Price Performance

General Electric stock opened at $174.70 on Thursday. General Electric has a 52 week low of $84.66 and a 52 week high of $194.80. The company’s 50 day moving average price is $180.14 and its two-hundred day moving average price is $168.87. The stock has a market cap of $189.08 billion, a P/E ratio of 30.70, a P/E/G ratio of 1.74 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the business posted $0.82 earnings per share. On average, equities analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.64%. General Electric’s dividend payout ratio is currently 19.68%.

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.