General Electric (NYSE:GE) Stock Position Trimmed by Truvestments Capital LLC

Truvestments Capital LLC cut its position in General Electric (NYSE:GE) by 57.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 187 shares of the conglomerate’s stock after selling 255 shares during the quarter. Truvestments Capital LLC’s holdings in General Electric were worth $33,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Halpern Financial Inc. raised its position in shares of General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after buying an additional 184 shares in the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of General Electric during the 4th quarter worth about $27,000. Capital Analysts LLC raised its position in shares of General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after buying an additional 87 shares in the last quarter. Bfsg LLC bought a new stake in shares of General Electric during the 4th quarter worth about $32,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of General Electric during the 4th quarter worth about $32,000. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. lifted their price objective on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Argus lifted their price objective on shares of General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada lifted their price objective on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Vertical Research began coverage on shares of General Electric in a research report on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price on the stock. 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 MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price of $183.93.

General Electric Stock Performance

Shares of General Electric stock traded up $5.14 on Friday, reaching $169.81. The stock had a trading volume of 7,297,730 shares, compared to its average volume of 5,743,017. The business’s 50-day moving average price is $162.35 and its two-hundred day moving average price is $156.49. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 1.14. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $177.20. The stock has a market cap of $184.13 billion, a P/E ratio of 55.68, a price-to-earnings-growth ratio of 1.76 and a beta of 1.21.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the previous year, the company earned $0.68 earnings per share. General Electric’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts forecast that General Electric will post 4.13 EPS for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is currently owned by insiders.

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.