University of Texas Texas AM Investment Management Co. Trims Holdings in General Electric (NYSE:GE)

University of Texas Texas AM Investment Management Co. reduced its holdings in General Electric (NYSE:GE) by 65.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,483 shares of the conglomerate’s stock after selling 4,672 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in General Electric were worth $395,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Studio Investment Management LLC increased its position in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the period. MFA Wealth Advisors LLC purchased a new stake in General Electric in the second quarter worth about $31,000. Kapitalo Investimentos Ltda bought a new stake in General Electric during the 4th quarter valued at approximately $32,000. Financial Connections Group Inc. bought a new position in shares of General Electric in the 2nd quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of General Electric in the 1st quarter valued at approximately $34,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Down 1.2 %

GE stock opened at $186.30 on Wednesday. The company has a market cap of $203.93 billion, a price-to-earnings ratio of 61.08, a P/E/G ratio of 1.87 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The business’s 50-day moving average is $172.31 and its two-hundred day moving average is $169.45. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $190.88.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter last year, the firm posted $0.68 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. As a group, analysts forecast that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group boosted their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Sanford C. Bernstein began coverage on General Electric in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price target on the stock. Finally, Royal Bank of Canada lifted their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $191.36.

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.