First Western Trust Bank Decreases Stock Holdings in General Electric (NYSE:GE)

First Western Trust Bank reduced its position in General Electric (NYSE:GE) by 3.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,037 shares of the conglomerate’s stock after selling 341 shares during the period. First Western Trust Bank’s holdings in General Electric were worth $1,596,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. USA Financial Formulas increased its position in shares of General Electric by 24,042.9% during the fourth quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock worth $1,294,000 after purchasing an additional 10,098 shares in the last quarter. Rathbones Group PLC increased its position in General Electric by 2.7% during the 4th quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock valued at $28,821,000 after buying an additional 5,997 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in General Electric by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate’s stock valued at $534,123,000 after buying an additional 318,245 shares during the last quarter. Vanguard Group Inc. raised its stake in General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after buying an additional 550,996 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in General Electric by 3.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 288,224 shares of the conglomerate’s stock worth $36,786,000 after acquiring an additional 8,788 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE stock opened at $163.91 on Friday. General Electric has a 52-week low of $84.42 and a 52-week high of $177.20. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The stock has a market cap of $179.42 billion, a PE ratio of 53.74, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18. The business has a 50-day simple moving average of $165.74 and a 200-day simple moving average of $163.10.

General Electric (NYSE:GE) last announced its quarterly 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. The company had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. On average, equities analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The company also recently declared 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. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.68%. General Electric’s dividend payout ratio is presently 36.72%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GE. Barclays increased their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. raised their price target 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. UBS Group lifted their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $190.38.

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.