Cobblestone Capital Advisors LLC NY Sells 250 Shares of General Electric (NYSE:GE)

Cobblestone Capital Advisors LLC NY reduced its position in General Electric (NYSE:GE) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,171 shares of the conglomerate’s stock after selling 250 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in General Electric were worth $1,140,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GE. MFA Wealth Advisors LLC bought a new stake in General Electric in the second quarter valued at $31,000. Kapitalo Investimentos Ltda bought a new stake in shares of General Electric in the 4th quarter worth about $32,000. Financial Connections Group Inc. acquired a new stake in shares of General Electric during the 2nd quarter worth about $32,000. Richardson Financial Services Inc. bought a new position in General Electric during the 1st quarter valued at about $34,000. Finally, Macroview Investment Management LLC boosted its position in General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Down 1.6 %

Shares of General Electric stock traded down $2.62 during trading on Friday, reaching $161.23. 3,954,854 shares of the company were exchanged, compared to its average volume of 6,700,422. The business has a 50-day moving average price of $165.78 and a 200-day moving average price of $163.18. The firm has a market capitalization of $176.48 billion, a price-to-earnings ratio of 52.88, a P/E/G ratio of 1.73 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a twelve month low of $84.42 and a twelve month high of $177.20.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the prior year, the business posted $0.68 EPS. General Electric’s revenue was up 3.9% on a year-over-year basis. 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 announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.69%. General Electric’s dividend payout ratio is presently 36.72%.

Wall Street Analyst Weigh In

GE has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. UBS Group boosted their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Barclays raised their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group upped their price target 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. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.38.

General Electric 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.