Deseret Mutual Benefit Administrators Sells 100 Shares of General Electric (NYSE:GE)

Deseret Mutual Benefit Administrators lowered its position in General Electric (NYSE:GE) by 15.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 545 shares of the conglomerate’s stock after selling 100 shares during the period. Deseret Mutual Benefit Administrators’ holdings in General Electric were worth $103,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GE. Studio Investment Management LLC boosted its stake in shares of 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 purchased a new position in General Electric during the third quarter valued at $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric during the third quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new position in shares of General Electric in the second quarter worth about $31,000. Finally, Financial Connections Group Inc. purchased a new position in shares of General Electric during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 0.5 %

Shares of NYSE GE opened at $181.70 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12-month low of $89.59 and a 12-month high of $194.80. The firm’s 50-day moving average price is $180.47 and its 200-day moving average price is $169.59. The stock has a market capitalization of $196.65 billion, a price-to-earnings ratio of 31.78, a P/E/G ratio of 1.70 and a beta of 1.19.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion for 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%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.82 earnings per share. On average, equities research analysts anticipate that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

Wall Street Analyst Weigh In

GE has been the topic of a number of analyst reports. Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Bank of America boosted their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Melius Research increased their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two research 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.com, General Electric has an average rating of “Moderate Buy” and a consensus target price 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.