General Electric (NYSE:GE) Shares Sold by Resources Management Corp CT ADV

Resources Management Corp CT ADV trimmed its holdings in General Electric (NYSE:GEGet Rating) by 22.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,240 shares of the conglomerate’s stock after selling 2,115 shares during the period. Resources Management Corp CT ADV’s holdings in General Electric were worth $662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Tcwp LLC acquired a new stake in General Electric during the first quarter worth about $28,000. Covestor Ltd acquired a new stake in General Electric during the fourth quarter worth about $31,000. Global Wealth Management Investment Advisory Inc. increased its position in General Electric by 808.1% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 299 shares during the last quarter. Core Alternative Capital increased its position in General Electric by 736.2% during the first quarter. Core Alternative Capital now owns 393 shares of the conglomerate’s stock worth $36,000 after purchasing an additional 346 shares during the last quarter. Finally, Bivin & Associates Inc. acquired a new stake in General Electric during the fourth quarter worth about $37,000. 67.09% of the stock is currently owned by institutional investors and hedge funds.

General Electric Trading Down 1.1 %

NYSE GE opened at $70.03 on Thursday. The firm has a 50 day simple moving average of $72.24 and a 200-day simple moving average of $78.19. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.80 and a current ratio of 1.13. General Electric has a one year low of $59.93 and a one year high of $116.17. The firm has a market cap of $76.79 billion, a price-to-earnings ratio of -16.52, a PEG ratio of 3.87 and a beta of 1.09.

General Electric (NYSE:GEGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The conglomerate reported $0.78 EPS for the quarter, beating the consensus estimate of $0.38 by $0.40. General Electric had a negative net margin of 5.94% and a positive return on equity of 7.50%. The business had revenue of $18.65 billion during the quarter, compared to analyst estimates of $17.90 billion. During the same quarter last year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that General Electric will post 2.74 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Tuesday, September 27th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, September 26th. This represents a $0.32 dividend on an annualized basis and a yield of 0.46%. General Electric’s dividend payout ratio is currently -7.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GE shares. UBS Group cut their price objective on shares of General Electric from $113.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, August 4th. The Goldman Sachs Group lowered their target price on shares of General Electric from $108.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. Sanford C. Bernstein initiated coverage on shares of General Electric in a research note on Tuesday, August 16th. They set an “outperform” rating and a $100.00 target price for the company. Credit Suisse Group lowered their target price on shares of General Electric from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Finally, Morgan Stanley lowered their target price on shares of General Electric from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.15.

General Electric Profile

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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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