Bard Financial Services Inc. Has $2.28 Million Stock Holdings in General Electric (NYSE:GE)

Bard Financial Services Inc. reduced its stake in shares of General Electric (NYSE:GE) by 31.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 12,105 shares of the conglomerate’s stock after selling 5,480 shares during the quarter. Bard Financial Services Inc.’s holdings in General Electric were worth $2,283,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Studio Investment Management LLC boosted its stake in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of General Electric in the second quarter worth $31,000. Kapitalo Investimentos Ltda acquired a new position in General Electric in the fourth quarter valued at $32,000. Financial Connections Group Inc. acquired a new position in shares of General Electric during the second quarter valued at about $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of General Electric in the 1st quarter worth about $34,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Performance

Shares of GE traded up $3.19 during mid-day trading on Friday, reaching $187.08. The company had a trading volume of 3,978,906 shares, compared to its average volume of 6,511,288. The stock has a market capitalization of $204.78 billion, a P/E ratio of 61.32, a PEG ratio of 1.87 and a beta of 1.18. General Electric has a 52-week low of $84.42 and a 52-week high of $190.88. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The stock has a 50 day moving average of $173.52 and a two-hundred day moving average of $166.17.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 EPS. On average, analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

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

Analyst Upgrades and Downgrades

GE has been the topic of several recent analyst reports. Barclays increased their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein started coverage on shares of General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target on the stock. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Jefferies Financial Group lifted their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Wells Fargo & Company upped their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $193.00.

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.