Cobblestone Capital Advisors LLC NY Sells 250 Shares of General Electric (NYSE:GE)

Cobblestone Capital Advisors LLC NY lessened its position in shares of General Electric (NYSE:GE) by 3.4% in the second quarter, Holdings Channel.com reports. The firm owned 7,171 shares of the conglomerate’s stock after selling 250 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in General Electric were worth $1,140,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GE. Capital World Investors lifted its stake in General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Norges Bank acquired a new position in shares of General Electric during the 4th quarter worth approximately $1,193,159,000. Capital International Investors raised its stake in General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board lifted its holdings 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 last quarter. Finally, Evergreen Quality Fund GP Ltd. bought a new position in General Electric during the first quarter worth $385,745,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Price Performance

NYSE:GE traded down $2.62 during trading hours on Friday, hitting $161.23. The company’s stock had a trading volume of 3,954,854 shares, compared to its average volume of 6,700,422. General Electric has a twelve month low of $84.42 and a twelve month high of $177.20. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The stock has a fifty day simple moving average of $165.78 and a 200-day simple moving average of $163.18. The company has a market capitalization of $176.48 billion, a P/E ratio of 52.88, a PEG ratio of 1.73 and a beta of 1.18.

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

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were given a $0.28 dividend. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.69%. General Electric’s dividend payout ratio is presently 36.72%.

Analyst Ratings Changes

A number of research firms have recently issued reports on GE. JPMorgan Chase & Co. raised their target price 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. Royal Bank of Canada boosted their price objective on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Barclays increased their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. UBS Group lifted their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Finally, Wells Fargo & Company upped their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $190.38.

About General Electric

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.