Folger Nolan Fleming Douglas Capital Management Inc. Sells 530 Shares of General Electric (NYSE:GE)

Folger Nolan Fleming Douglas Capital Management Inc. cut its stake in General Electric (NYSE:GEGet Rating) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,779 shares of the conglomerate’s stock after selling 530 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in General Electric were worth $877,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Tcwp LLC acquired a new position in shares of General Electric in the first quarter valued at about $28,000. Global Wealth Management Investment Advisory Inc. grew its stake in shares of General Electric by 808.1% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 299 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new position in shares of General Electric in the second quarter valued at about $34,000. Core Alternative Capital grew its stake in General Electric by 736.2% during the first quarter. Core Alternative Capital now owns 393 shares of the conglomerate’s stock worth $36,000 after buying an additional 346 shares in the last quarter. Finally, Bivin & Associates Inc. bought a new position in General Electric in the 4th quarter valued at about $37,000. 67.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GE has been the topic of several research reports. UBS Group decreased their price target on shares of General Electric from $113.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, August 4th. Barclays cut their target price on shares of General Electric from $96.00 to $81.00 and set an “overweight” rating on the stock in a research report on Friday, July 8th. The Goldman Sachs Group cut their target price on shares of General Electric from $108.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. Morgan Stanley cut their target price on shares of General Electric from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. Finally, Wells Fargo & Company lifted their target price on shares of General Electric to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.15.

General Electric Stock Down 2.5 %

Shares of NYSE GE traded down $1.62 during trading on Friday, hitting $63.74. The stock had a trading volume of 369,686 shares, compared to its average volume of 5,474,241. General Electric has a 12 month low of $59.93 and a 12 month high of $116.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.13 and a quick ratio of 0.80. The company has a market capitalization of $69.89 billion, a PE ratio of -15.42, a PEG ratio of 3.40 and a beta of 1.09. The firm has a fifty day moving average of $72.91 and a two-hundred day moving average of $77.09.

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

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Tuesday, September 27th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Monday, September 26th. General Electric’s dividend payout ratio (DPR) is currently -7.55%.

General Electric 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.

Further Reading

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

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