Court Place Advisors LLC Sells 218 Shares of General Electric (NYSE:GE)

Court Place Advisors LLC lowered its stake in General Electric (NYSE:GE) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,445 shares of the conglomerate’s stock after selling 218 shares during the quarter. Court Place Advisors LLC’s holdings in General Electric were worth $1,215,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Studio Investment Management LLC grew its position 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 during the last quarter. Toth Financial Advisory Corp bought a new stake in shares of General Electric during the third quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new position in shares of General Electric in the second quarter valued at approximately $31,000. Financial Connections Group Inc. bought a new position in General Electric in the 2nd quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. bought a new stake in General Electric during the 1st quarter worth approximately $34,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Up 0.4 %

General Electric stock traded up $0.71 during midday trading on Friday, reaching $180.45. The stock had a trading volume of 604,528 shares, compared to its average volume of 6,350,744. The company has a fifty day moving average price of $179.51 and a two-hundred day moving average price of $168.15. General Electric has a 12 month low of $84.58 and a 12 month high of $194.80. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $197.52 billion, a P/E ratio of 58.90, a PEG ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 36.72%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GE. UBS Group boosted their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Bank of America lifted their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased their target price on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Barclays boosted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

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.