TFG Advisers LLC Reduces Stock Position in General Electric (NYSE:GE)

TFG Advisers LLC trimmed its holdings in shares of General Electric (NYSE:GE) by 11.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,347 shares of the conglomerate’s stock after selling 175 shares during the quarter. TFG Advisers LLC’s holdings in General Electric were worth $254,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GE. Studio Investment Management LLC lifted its position in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in shares of General Electric in the third quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric in the second quarter valued at $31,000. Financial Connections Group Inc. bought a new stake in shares of General Electric in the 2nd quarter worth about $32,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of General Electric during the 1st quarter worth about $34,000. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

NYSE GE opened at $181.78 on Thursday. The firm’s fifty day simple moving average is $179.51 and its two-hundred day simple moving average is $168.15. The firm has a market capitalization of $198.98 billion, a P/E ratio of 59.60, a P/E/G ratio of 1.86 and a beta of 1.18. 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 has a 12-month low of $84.58 and a 12-month high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $0.82 EPS. Analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently weighed in on GE. Jefferies Financial Group increased their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company raised their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday. Royal Bank of Canada cut their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Melius Research lifted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.