Gulf International Bank UK Ltd Sells 3,863 Shares of General Electric (NYSE:GE)

Gulf International Bank UK Ltd reduced its stake in shares of General Electric (NYSE:GE) by 4.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 85,870 shares of the conglomerate’s stock after selling 3,863 shares during the period. Gulf International Bank UK Ltd’s holdings in General Electric were worth $16,193,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Tsfg LLC lifted its position in shares of General Electric by 12.8% during the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after acquiring an additional 55 shares in the last quarter. Macroview Investment Management LLC lifted its holdings in General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. Strategic Advisors LLC boosted its stake in General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after purchasing an additional 58 shares during the period. Allegheny Financial Group LTD grew its holdings in General Electric by 1.4% during the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after buying an additional 61 shares in the last quarter. Finally, New England Research & Management Inc. increased its position in shares of General Electric by 2.2% during the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after buying an additional 63 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 0.0 %

Shares of General Electric stock opened at $171.76 on Tuesday. The company has a 50-day simple moving average of $180.21 and a two-hundred day simple moving average of $169.32. The stock has a market capitalization of $185.89 billion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19. General Electric has a 52-week low of $86.83 and a 52-week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate 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 for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company earned $0.82 EPS. On average, analysts anticipate that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

Analyst Ratings Changes

Several equities analysts recently commented on GE shares. Wells Fargo & Company boosted their price objective on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Bank of America increased their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein boosted their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Melius Research boosted their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. 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 an average rating of “Moderate Buy” and an average price target of $200.93.

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.