Prentiss Smith & Co. Inc. Sells 385 Shares of General Electric (NYSE:GE)

Prentiss Smith & Co. Inc. reduced its holdings in General Electric (NYSE:GE) by 11.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,970 shares of the conglomerate’s stock after selling 385 shares during the quarter. Prentiss Smith & Co. Inc.’s holdings in General Electric were worth $560,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GE shares. Royal Bank of Canada lifted their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. UBS Group increased their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Citigroup raised their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group upped their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average price target of $196.86.

General Electric Stock Up 0.0 %

GE stock traded up $0.02 on Monday, reaching $192.63. 1,881,782 shares of the company traded hands, compared to its average volume of 6,312,156. The firm has a fifty day simple moving average of $178.51 and a 200-day simple moving average of $167.58. The company has a market cap of $210.85 billion, a P/E ratio of 63.31, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. General Electric has a one year low of $84.58 and a one year high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

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

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. General Electric’s dividend payout ratio is presently 36.72%.

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.