Massmutual Trust Co. FSB ADV Sells 252 Shares of General Electric (NYSE:GE)

Massmutual Trust Co. FSB ADV trimmed its holdings in General Electric (NYSE:GEGet Rating) by 24.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 795 shares of the conglomerate’s stock after selling 252 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in General Electric were worth $51,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hazlett Burt & Watson Inc. purchased a new stake in shares of General Electric during the 1st quarter worth approximately $126,000. TD Asset Management Inc. raised its holdings in shares of General Electric by 4.2% during the 1st quarter. TD Asset Management Inc. now owns 1,058,387 shares of the conglomerate’s stock worth $96,842,000 after acquiring an additional 42,848 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of General Electric during the 1st quarter worth approximately $158,000. Paradigm Financial Partners LLC purchased a new stake in shares of General Electric during the 4th quarter worth approximately $558,000. Finally, Boyd Watterson Asset Management LLC OH purchased a new stake in shares of General Electric during the 1st quarter worth approximately $388,000. 67.09% of the stock is owned by hedge funds and other institutional investors.

General Electric Price Performance

Shares of GE stock opened at $67.05 on Tuesday. General Electric has a 1-year low of $59.93 and a 1-year high of $116.17. The stock’s 50-day moving average is $72.59 and its 200 day moving average is $77.55. The company has a market cap of $73.52 billion, a P/E ratio of -15.66, a PEG ratio of 3.47 and a beta of 1.09. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.13 and a quick ratio of 0.80.

General Electric (NYSE:GEGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The conglomerate reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.40. General Electric had a positive return on equity of 7.50% and a negative net margin of 5.94%. The company had revenue of $18.65 billion for the quarter, compared to the consensus estimate of $17.90 billion. During the same quarter last year, the company earned $0.40 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts predict that General Electric will post 2.74 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Tuesday, September 27th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, September 26th. General Electric’s dividend payout ratio is presently -7.55%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. UBS Group decreased their price objective on General Electric from $113.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, August 4th. Deutsche Bank Aktiengesellschaft decreased their price target on General Electric from $90.00 to $88.00 in a report on Wednesday, July 27th. Barclays decreased their price target on General Electric from $96.00 to $81.00 and set an “overweight” rating on the stock in a report on Friday, July 8th. Morgan Stanley decreased their price target on General Electric from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, July 12th. Finally, Credit Suisse Group decreased their price target on General Electric from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.15.

General Electric Company Profile

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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

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

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