Perennial Investment Advisors LLC Sells 172 Shares of General Electric (NYSE:GE)

Perennial Investment Advisors LLC lessened its stake in shares of General Electric (NYSE:GE) by 4.0% during the second quarter, Holdings Channel.com reports. The fund owned 4,126 shares of the conglomerate’s stock after selling 172 shares during the period. Perennial Investment Advisors LLC’s holdings in General Electric were worth $656,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Studio Investment Management LLC boosted its holdings in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric in the 2nd quarter valued at $31,000. Kapitalo Investimentos Ltda acquired a new stake in shares of General Electric in the 4th quarter valued at $32,000. Financial Connections Group Inc. acquired a new stake in shares of General Electric in the 2nd quarter valued at $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of General Electric in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Down 0.6 %

Shares of GE opened at $180.32 on Wednesday. The company has a market capitalization of $197.38 billion, a PE ratio of 59.12, a PEG ratio of 1.65 and a beta of 1.18. General Electric has a 12 month low of $84.42 and a 12 month high of $182.43. The stock’s 50-day moving average price is $167.28 and its two-hundred day moving average price is $170.87. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the company posted $0.68 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Sanford C. Bernstein assumed coverage on General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Jefferies Financial Group raised their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Wells Fargo & Company raised their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $191.14.

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.