Mizuho Markets Americas LLC Trims Stake in General Electric (NYSE:GE)

Mizuho Markets Americas LLC lowered its position in General Electric (NYSE:GE) by 30.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,069 shares of the conglomerate’s stock after selling 18,932 shares during the quarter. Mizuho Markets Americas LLC’s holdings in General Electric were worth $8,122,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Studio Investment Management LLC grew its holdings in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Toth Financial Advisory Corp bought a new position in General Electric during the 3rd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new position in General Electric during the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in General Electric during the 3rd quarter worth about $27,000. Finally, MFA Wealth Advisors LLC bought a new position in General Electric during the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.8 %

GE stock opened at $176.89 on Friday. General Electric has a 52 week low of $93.05 and a 52 week high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $191.45 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19. The firm has a 50 day moving average of $182.29 and a 200 day moving average of $170.57.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same period last year, the firm posted $0.82 EPS. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. Sell-side analysts forecast that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is presently 19.68%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Barclays raised their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Sanford C. Bernstein raised their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup raised their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Bank of America raised their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by insiders.

General Electric 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.