Quadrant Capital Group LLC Cuts Stock Position in General Electric (NYSE:GE)

Quadrant Capital Group LLC decreased its stake in shares of General Electric (NYSE:GE) by 15.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,291 shares of the conglomerate’s stock after selling 2,104 shares during the quarter. Quadrant Capital Group LLC’s holdings in General Electric were worth $1,240,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Steward Financial Group LLC bought a new stake in General Electric in the 2nd quarter worth about $26,000. Global Wealth Management Investment Advisory Inc. raised its holdings in shares of General Electric by 808.1% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 299 shares during the last quarter. Syverson Strege & Co lifted its position in General Electric by 53.6% during the first quarter. Syverson Strege & Co now owns 338 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 118 shares during the period. Motco boosted its holdings in General Electric by 143.0% in the second quarter. Motco now owns 294 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 173 shares during the last quarter. Finally, Financial Freedom LLC bought a new position in shares of General Electric during the 4th quarter valued at $32,000. 74.83% of the stock is owned by hedge funds and other institutional investors.

General Electric Price Performance

General Electric stock opened at $118.94 on Friday. The firm has a 50-day moving average of $111.54 and a two-hundred day moving average of $109.33. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.17 and a quick ratio of 0.82. General Electric has a 1 year low of $59.57 and a 1 year high of $118.96. The stock has a market cap of $129.45 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 3.28 and a beta of 1.26.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 24th. The conglomerate reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. General Electric had a net margin of 14.38% and a return on equity of 11.10%. The business had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $15.46 billion. During the same quarter last year, the firm posted $0.35 EPS. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, research analysts forecast that General Electric will post 2.65 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Tuesday, September 26th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, September 25th. This represents a $0.32 annualized dividend and a yield of 0.27%. General Electric’s dividend payout ratio (DPR) is 3.61%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GE. Barclays increased their target price on General Electric from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of General Electric in a research report on Wednesday, September 27th. They set a “buy” rating and a $141.00 target price for the company. Citigroup lifted their price target on shares of General Electric from $126.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. Morgan Stanley lifted their target price on General Electric from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Finally, Oppenheimer cut General Electric from an “outperform” rating to a “market perform” rating in a research report on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $122.93.

General Electric Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It 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.