DekaBank Deutsche Girozentrale Sells 10,683 Shares of General Electric (NYSE:GE)

DekaBank Deutsche Girozentrale reduced its stake in General Electric (NYSE:GE) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 508,277 shares of the conglomerate’s stock after selling 10,683 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in General Electric were worth $93,015,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Studio Investment Management LLC lifted its holdings 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 purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp bought a new position in General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric during the third quarter worth $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric during the second quarter worth $31,000. Finally, Financial Connections Group Inc. bought a new stake in shares of General Electric in the second quarter valued at about $32,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GE shares. Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Bank of America increased their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Melius Research increased their target price 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 given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Trading Down 0.4 %

Shares of General Electric stock opened at $179.10 on Monday. The firm has a market capitalization of $194.20 billion, a PE ratio of 31.48, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm’s 50 day moving average is $179.90 and its 200 day moving average is $168.56. General Electric has a 1 year low of $84.58 and a 1 year high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the business earned $0.82 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

General Electric Company 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.