First United Bank & Trust Reduces Position in General Electric (NYSE:GE)

by · The Markets Daily

First United Bank & Trust trimmed its position in General Electric (NYSE:GE – Free Report) by 33.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 437 shares of the conglomerate’s stock after selling 218 shares during the quarter. First United Bank & Trust’s holdings in General Electric were worth $82,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Studio Investment Management LLC increased its position in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the period. MFA Wealth Advisors LLC purchased a new position in General Electric during the 2nd quarter valued at about $31,000. Kapitalo Investimentos Ltda bought a new position in General Electric during the 4th quarter valued at approximately $32,000. Financial Connections Group Inc. purchased a new stake in General Electric in the 2nd quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of General Electric in the 1st quarter worth approximately $34,000. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on GE. Jefferies Financial Group raised their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Citigroup raised their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company increased their price target on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Sanford C. Bernstein upped their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $196.86.

Check Out Our Latest Stock Analysis on General Electric

General Electric Stock Performance

Shares of General Electric stock opened at $192.18 on Thursday. General Electric has a 1 year low of $84.42 and a 1 year high of $194.33. The firm’s 50-day moving average is $177.46 and its 200 day moving average is $166.91. The stock has a market cap of $210.36 billion, a price-to-earnings ratio of 63.01, a PEG ratio of 1.86 and a beta of 1.18. 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 – Get Free Report) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Sell-side analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared 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. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

About General Electric

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE – Free Report).