Frank Rimerman Advisors LLC Has $3.69 Million Position in General Electric (NYSE:GE)

Frank Rimerman Advisors LLC lowered its holdings in General Electric (NYSE:GE) by 13.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,556 shares of the conglomerate’s stock after selling 3,005 shares during the period. Frank Rimerman Advisors LLC’s holdings in General Electric were worth $3,688,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Newport Trust Company LLC acquired a new stake in shares of General Electric during the second quarter worth approximately $2,613,332,000. Capital World Investors boosted its stake in shares of General Electric by 2,818.1% during the 1st 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 period. Capital International Investors boosted its stake in shares of General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of General Electric by 221.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after acquiring an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of General Electric in the second quarter worth $580,200,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

NYSE:GE opened at $179.10 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a one year low of $84.58 and a one year high of $194.80. The company has a fifty day moving average price of $179.90 and a 200 day moving average price of $168.48. The stock has a market cap of $194.20 billion, a P/E ratio of 31.48, a PEG ratio of 1.74 and a beta of 1.18.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. General Electric’s dividend payout ratio is currently 19.68%.

Analyst Upgrades and Downgrades

GE has been the topic of a number of recent research reports. Bank of America boosted their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays boosted their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. UBS Group raised their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada cut their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Company 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.