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

First Western Trust Bank trimmed its position in shares of General Electric (NYSE:GE) by 6.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,788 shares of the conglomerate’s stock after selling 679 shares during the period. First Western Trust Bank’s holdings in General Electric were worth $1,075,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GE. Steward Financial Group LLC purchased a new position in General Electric in the 2nd quarter worth approximately $26,000. Motco increased its stake in shares of General Electric by 143.0% during the second quarter. Motco now owns 294 shares of the conglomerate’s stock valued at $32,000 after buying an additional 173 shares during the period. Mizuho Securities Co. Ltd. purchased a new position in shares of General Electric during the second quarter valued at approximately $33,000. Global Wealth Management Investment Advisory Inc. increased its stake 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 buying an additional 299 shares during the period. Finally, Syverson Strege & Co increased its stake in shares of 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 buying an additional 118 shares during the period. 74.83% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of NYSE:GE traded up $0.11 during midday trading on Monday, reaching $120.04. 1,688,456 shares of the company’s stock traded hands, compared to its average volume of 5,890,931. The company has a market cap of $130.65 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 3.28 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.82 and a current ratio of 1.17. General Electric has a one year low of $59.57 and a one year high of $120.45. The stock has a 50 day moving average of $111.70 and a 200 day moving average of $109.57.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $17.35 billion during the quarter, compared to analysts’ expectations of $15.46 billion. General Electric had a return on equity of 11.10% and a net margin of 14.38%. General Electric’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, equities research analysts anticipate that General Electric will post 2.65 EPS for the current fiscal year.

General Electric Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. TheStreet cut General Electric from a “b-” rating to a “c” rating in a research note on Tuesday, October 24th. Deutsche Bank Aktiengesellschaft began coverage on General Electric in a research report on Wednesday, September 27th. They set a “buy” rating and a $141.00 price target on the stock. Barclays lifted their price target on General Electric from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, October 25th. Oppenheimer lowered General Electric from an “outperform” rating to a “market perform” rating in a research report on Monday, July 31st. Finally, The Goldman Sachs Group lifted their price target on General Electric from $121.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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.