Williams Financial LLC acquired a new position in General Electric (NYSE:GE – Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,172 shares of the conglomerate’s stock, valued at approximately $2,751,000.
A number of other large investors have also modified their holdings of the company. USA Financial Formulas raised its position in shares of General Electric by 24,042.9% during the 4th quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock worth $1,294,000 after purchasing an additional 10,098 shares during the last quarter. Grandfield & Dodd LLC raised its position in shares of General Electric by 9.3% during the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock worth $34,432,000 after purchasing an additional 22,998 shares during the last quarter. Rathbones Group PLC raised its position in shares of General Electric by 2.7% during the 4th quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock worth $28,821,000 after purchasing an additional 5,997 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of General Electric by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate’s stock worth $534,123,000 after purchasing an additional 318,245 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after purchasing an additional 550,996 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.
General Electric Stock Down 0.3 %
Shares of GE traded down $0.52 during midday trading on Friday, reaching $169.42. The stock had a trading volume of 3,305,648 shares, compared to its average volume of 6,935,916. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20. The company’s fifty day simple moving average is $163.24 and its two-hundred day simple moving average is $160.51. The company has a market cap of $185.45 billion, a price-to-earnings ratio of 55.55, a PEG ratio of 1.70 and a beta of 1.21. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.
General Electric (NYSE:GE – Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Equities research analysts expect that General Electric will post 4.15 earnings per share for the current year.
General Electric Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio is currently 36.72%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on GE. Citigroup upped their price objective on shares of General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Wells Fargo & Company upped their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Argus upped their price objective on shares of General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. increased their price target on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Finally, Barclays increased their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $190.38.
Insider Buying and Selling
In other news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.
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.