Friedenthal Financial decreased its holdings in General Electric (NYSE:GE – Free Report) by 18.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,615 shares of the conglomerate’s stock after selling 1,508 shares during the period. Friedenthal Financial’s holdings in General Electric were worth $727,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Global Wealth Management Investment Advisory Inc. grew its stake in General Electric by 808.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after buying an additional 299 shares during the last quarter. Syverson Strege & Co grew its position in shares of General Electric by 53.6% in the first quarter. Syverson Strege & Co now owns 338 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 118 shares during the last quarter. Ridgewood Investments LLC acquired a new position in shares of General Electric in the first quarter valued at approximately $34,000. FSC Wealth Advisors LLC increased its stake in shares of General Electric by 97.8% during the second quarter. FSC Wealth Advisors LLC now owns 366 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 181 shares during the period. Finally, Silicon Valley Capital Partners acquired a new stake in General Electric during the 4th quarter worth approximately $31,000. 74.83% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have weighed in on GE. Royal Bank of Canada lifted their price objective on shares of General Electric from $120.00 to $130.00 in a research note on Wednesday, July 26th. Morgan Stanley lifted their price target on shares of General Electric from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Barclays increased their price target on General Electric from $125.00 to $131.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 25th. Jefferies Financial Group raised their price objective on General Electric from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, July 17th. Finally, Bank of America upped their target price on General Electric from $108.00 to $120.00 in a research report on Thursday, July 6th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $122.71.
General Electric Trading Down 0.3 %
Shares of NYSE:GE traded down $0.34 during mid-day trading on Tuesday, reaching $108.45. 787,965 shares of the company’s stock were exchanged, compared to its average volume of 6,004,323. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.25. General Electric has a twelve month low of $48.98 and a twelve month high of $117.96. The firm has a market capitalization of $118.03 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 3.86 and a beta of 1.27. The business’s fifty day moving average price is $113.33 and its 200-day moving average price is $105.88.
General Electric (NYSE:GE – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.22. The company had revenue of $15.85 billion during the quarter, compared to the consensus estimate of $14.76 billion. General Electric had a return on equity of 9.30% and a net margin of 13.32%. The firm’s revenue was up 18.6% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share. On average, research analysts predict that General Electric will post 2.29 EPS for the current fiscal year.
General Electric Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Tuesday, September 26th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, September 25th. This represents a $0.32 annualized dividend and a dividend yield of 0.30%. General Electric’s payout ratio is 3.80%.
Insider Buying and Selling
In other news, SVP Michael J. Holston sold 112,614 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $115.20, for a total transaction of $12,973,132.80. Following the completion of the sale, the senior vice president now owns 57,923 shares of the company’s stock, valued at approximately $6,672,729.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.67% of the stock is currently owned by insiders.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.