HM Payson & Co. Has $4.24 Million Stock Position in General Electric (NYSE:GE)

HM Payson & Co. lessened its holdings in shares of General Electric (NYSE:GEFree Report) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,491 shares of the conglomerate’s stock after selling 173 shares during the quarter. HM Payson & Co.’s holdings in General Electric were worth $4,241,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Studio Investment Management LLC raised 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 purchasing an additional 78 shares during the period. Toth Financial Advisory Corp bought a new stake in General Electric during the third quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric in the third quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new position in shares of General Electric in the second quarter worth about $31,000. Finally, Financial Connections Group Inc. acquired a new position in shares of General Electric during the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Down 1.3 %

NYSE GE traded down $2.28 during trading on Thursday, reaching $172.36. 352,936 shares of the stock traded hands, compared to its average volume of 6,317,194. The stock’s 50-day moving average price is $180.14 and its 200 day moving average price is $168.87. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a market cap of $186.54 billion, a price-to-earnings ratio of 30.70, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. General Electric has a fifty-two week low of $84.66 and a fifty-two week high of $194.80.

General Electric (NYSE:GEGet Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 earnings per share. Analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s payout ratio is currently 19.68%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada decreased their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Citigroup raised their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.93.

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General Electric Profile

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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.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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