Graybill Wealth Management LTD. Sells 281 Shares of General Electric (NYSE:GE)

Graybill Wealth Management LTD. reduced its stake in General Electric (NYSE:GE) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,777 shares of the conglomerate’s stock after selling 281 shares during the period. General Electric makes up 1.9% of Graybill Wealth Management LTD.’s portfolio, making the stock its 25th biggest position. Graybill Wealth Management LTD.’s holdings in General Electric were worth $5,238,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of GE. Newport Trust Company LLC bought a new stake in General Electric during the 2nd quarter valued at about $2,613,332,000. Capital World Investors grew its holdings in shares of General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares during the last quarter. Capital International Investors increased its position in shares of General Electric by 9.9% during the first 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 in the last quarter. Canada Pension Plan Investment Board raised its holdings in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after acquiring an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in General Electric in the 2nd quarter valued at approximately $580,200,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Performance

NYSE:GE traded down $17.73 during mid-day trading on Tuesday, hitting $176.50. 6,038,072 shares of the company traded hands, compared to its average volume of 6,324,736. The stock’s fifty day moving average price is $179.06 and its 200-day moving average price is $167.91. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a one year low of $84.58 and a one year high of $194.80. The firm has a market cap of $193.20 billion, a price-to-earnings ratio of 57.87, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period in the prior year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. General Electric’s payout ratio is 36.72%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GE shares. Royal Bank of Canada lifted their target price on General Electric from $190.00 to $210.00 in a report on Tuesday. Sanford C. Bernstein lifted their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday. Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, UBS Group increased their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $198.53.

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.