Nichols & Pratt Advisers LLP MA Trims Stock Holdings in General Electric (NYSE:GE)

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Nichols & Pratt Advisers LLP MA lowered its stake in shares of General Electric (NYSE:GE) by 10.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 190,715 shares of the conglomerate’s stock after selling 21,650 shares during the period. Nichols & Pratt Advisers LLP MA’s holdings in General Electric were worth $1,188,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GE. TIAA FSB raised its position in General Electric by 234.4% in the 3rd quarter. TIAA FSB now owns 1,649,509 shares of the conglomerate’s stock worth $10,276,000 after purchasing an additional 1,156,226 shares during the period. KBC Group NV raised its stake in shares of General Electric by 3.4% during the third quarter. KBC Group NV now owns 985,362 shares of the conglomerate’s stock valued at $6,139,000 after acquiring an additional 32,423 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in General Electric by 14.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 50,412 shares of the conglomerate’s stock worth $314,000 after buying an additional 6,260 shares in the last quarter. Centric Wealth Management raised its holdings in General Electric by 19.3% in the third quarter. Centric Wealth Management now owns 27,259 shares of the conglomerate’s stock worth $232,000 after purchasing an additional 4,412 shares in the last quarter. Finally, Trust Co. of Toledo NA OH boosted its stake in General Electric by 21.4% during the third quarter. Trust Co. of Toledo NA OH now owns 16,000 shares of the conglomerate’s stock worth $100,000 after acquiring an additional 2,815 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

GE traded up $0.10 during trading hours on Friday, hitting $9.76. 80,135,495 shares of the stock were exchanged, compared to its average volume of 99,359,625. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.31 and a quick ratio of 2.04. General Electric has a 12 month low of $5.48 and a 12 month high of $13.26. The stock has a 50-day simple moving average of $7.64 and a 200-day simple moving average of $6.87. The stock has a market cap of $85.50 billion, a price-to-earnings ratio of 27.11 and a beta of 0.76.

General Electric (NYSE:GE) last released its quarterly earnings data on Wednesday, October 28th. The conglomerate reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.10. General Electric had a return on equity of 5.37% and a net margin of 4.52%. During the same quarter last year, the company posted $0.15 earnings per share. Sell-side analysts expect that General Electric will post -0.03 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Monday, September 28th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Friday, September 25th. General Electric’s dividend payout ratio is presently 6.15%.

A number of equities analysts recently weighed in on GE shares. The Goldman Sachs Group boosted their price objective on shares of General Electric from $10.00 to $11.00 in a report on Thursday, October 29th. Morgan Stanley upped their price objective on General Electric from $8.00 to $8.50 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Cowen reaffirmed a “hold” rating and set a $7.00 price target on shares of General Electric in a research report on Monday, October 19th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $6.81 to $9.00 and gave the stock a “hold” rating in a research note on Thursday, October 29th. Finally, Zacks Investment Research upgraded shares of General Electric from a “strong sell” rating to a “hold” rating and set a $7.00 price target on the stock in a research note on Wednesday, October 14th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. General Electric has a consensus rating of “Buy” and a consensus price target of $8.89.

About General Electric

General Electric Company operates as a high-tech industrial company in the United States, Europe, Asia, the Americas, the Middle East, and Africa. It operates through Power, Renewable Energy, Aviation, Healthcare, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and power generation services.

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

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