Kanawha Capital Management LLC Lowers Position in General Electric (NYSE:GE)

by · The Cerbat Gem

Kanawha Capital Management LLC lowered its stake in shares of General Electric (NYSE:GE – Free Report) by 10.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,289 shares of the conglomerate’s stock after selling 1,146 shares during the quarter. Kanawha Capital Management LLC’s holdings in General Electric were worth $1,940,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Mackenzie Financial Corp grew its stake in shares of General Electric by 10.5% in the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after acquiring an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC purchased a new stake in General Electric in the 2nd quarter valued at about $1,569,000. GAMMA Investing LLC lifted its position in shares of General Electric by 25.4% during the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after buying an additional 3,442 shares in the last quarter. Senator Investment Group LP purchased a new position in shares of General Electric in the 2nd quarter worth approximately $34,973,000. Finally, Blair William & Co. IL grew its holdings in shares of General Electric by 4.4% in the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after acquiring an additional 7,670 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the topic of several research analyst reports. Bank of America boosted their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reduced their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their target price on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Sanford C. Bernstein lifted their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

Read Our Latest Analysis on GE

General Electric Stock Performance

Shares of GE opened at $171.70 on Monday. General Electric has a 12-month low of $85.89 and a 12-month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market cap of $185.83 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19. The stock has a 50-day moving average price of $180.20 and a 200-day moving average price of $169.19.

General Electric (NYSE:GE – Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping 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 analysts’ expectations of $9.02 billion. During the same quarter in the previous year, the company earned $0.82 EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is currently 19.68%.

General Electric Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE – Free Report).