Community Bank of Raymore Sells 800 Shares of General Electric (NYSE:GE)

Community Bank of Raymore trimmed its holdings in shares of General Electric (NYSE:GE) by 5.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 12,770 shares of the conglomerate’s stock after selling 800 shares during the period. General Electric makes up about 1.8% of Community Bank of Raymore’s investment portfolio, making the stock its 19th biggest position. Community Bank of Raymore’s holdings in General Electric were worth $2,408,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GE. Capital International Investors increased its holdings in General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares in the last quarter. Newport Trust Company LLC acquired a new position in shares of General Electric during the second quarter valued at $2,613,332,000. Capital World Investors increased its position in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Legal & General Group Plc raised its holdings in General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after purchasing an additional 459,201 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in General Electric by 221.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after purchasing an additional 4,907,530 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GE shares. Citigroup increased their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Barclays upped their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company raised their target price on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group boosted their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $196.86.

General Electric Trading Up 0.8 %

NYSE GE opened at $192.18 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. General Electric has a 52 week low of $84.42 and a 52 week high of $194.33. The stock has a market capitalization 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 stock’s 50 day moving average price is $177.46 and its two-hundred day moving average price is $166.91.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (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 business had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. General Electric’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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

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.