Conning Inc. Trims Stock Holdings in General Electric (NYSE:GE)

Conning Inc. reduced its holdings in shares of General Electric (NYSE:GE) by 1.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,905 shares of the conglomerate’s stock after selling 97 shares during the period. Conning Inc.’s holdings in General Electric were worth $1,114,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Clear Creek Financial Management LLC lifted its holdings in General Electric by 17.0% during the 3rd quarter. Clear Creek Financial Management LLC now owns 1,963 shares of the conglomerate’s stock worth $370,000 after buying an additional 285 shares during the last quarter. F M Investments LLC acquired a new stake in shares of General Electric during the third quarter worth $297,000. BluePath Capital Management LLC raised its stake in General Electric by 6.8% during the third quarter. BluePath Capital Management LLC now owns 1,373 shares of the conglomerate’s stock worth $259,000 after acquiring an additional 87 shares during the period. Silvant Capital Management LLC lifted its holdings in General Electric by 56.5% in the third quarter. Silvant Capital Management LLC now owns 208,588 shares of the conglomerate’s stock worth $39,373,000 after acquiring an additional 75,327 shares during the last quarter. Finally, Capital Advisors Inc. OK boosted its stake in General Electric by 33.9% in the third quarter. Capital Advisors Inc. OK now owns 5,490 shares of the conglomerate’s stock valued at $1,035,000 after acquiring an additional 1,389 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GE. Sanford C. Bernstein upped their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. UBS Group lifted their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup boosted their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Bank of America raised their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Price Performance

Shares of NYSE:GE opened at $171.70 on Friday. General Electric has a one year low of $85.89 and a one year high of $194.80. The company has a market capitalization of $185.83 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a fifty day moving average of $180.20 and a 200-day moving average of $169.10.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the company posted $0.82 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts anticipate that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is currently 19.68%.

General Electric 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.