Courier Capital LLC Sells 589 Shares of General Electric (NYSE:GE)

Courier Capital LLC lessened its holdings in shares of General Electric (NYSE:GE) by 7.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,182 shares of the conglomerate’s stock after selling 589 shares during the quarter. Courier Capital LLC’s holdings in General Electric were worth $1,354,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Toth Financial Advisory Corp bought a new stake in General Electric during the 3rd quarter valued at $25,000. Studio Investment Management LLC increased its stake in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in General Electric during the 2nd quarter valued at $31,000. Richardson Financial Services Inc. bought a new stake in General Electric during the 1st quarter valued at $34,000. Finally, Financial Connections Group Inc. bought a new stake in shares of General Electric in the 2nd quarter worth $32,000. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 2.9 %

Shares of GE opened at $181.78 on Thursday. The business’s 50-day moving average price is $179.51 and its 200-day moving average price is $168.15. General Electric has a twelve month low of $84.58 and a twelve month high of $194.80. The stock has a market cap of $198.98 billion, a PE ratio of 59.60, a P/E/G ratio of 1.86 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 (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. On average, equities analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently issued reports on GE. Barclays upped their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Jefferies Financial Group boosted their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Royal Bank of Canada cut their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

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.