Vicus Capital Boosts Stock Position in General Electric (NYSE:GE)

Vicus Capital grew its position in shares of General Electric (NYSE:GE) by 51.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,059 shares of the conglomerate’s stock after purchasing an additional 695 shares during the quarter. Vicus Capital’s holdings in General Electric were worth $327,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Kornitzer Capital Management Inc. KS lifted its stake in General Electric by 39.5% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 8,825 shares of the conglomerate’s stock worth $1,126,000 after purchasing an additional 2,500 shares during the last quarter. abrdn plc lifted its stake in shares of General Electric by 67.8% in the 4th quarter. abrdn plc now owns 454,887 shares of the conglomerate’s stock valued at $58,057,000 after acquiring an additional 183,762 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in General Electric by 13.1% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,037 shares of the conglomerate’s stock valued at $643,000 after acquiring an additional 583 shares during the period. Criterion Capital Advisors LLC bought a new position in General Electric during the 4th quarter worth approximately $27,000. Finally, Cetera Trust Company N.A bought a new position in General Electric during the 4th quarter worth approximately $159,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on GE. UBS Group boosted their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. boosted their price objective on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Barclays upped their price objective 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. Finally, The Goldman Sachs Group raised their target price on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $190.38.

General Electric Stock Down 0.3 %

GE traded down $0.49 during midday trading on Thursday, reaching $170.71. The company’s stock had a trading volume of 695,298 shares, compared to its average volume of 6,837,982. General Electric has a 1 year low of $84.42 and a 1 year high of $177.20. The stock’s 50-day moving average is $163.80 and its 200-day moving average is $161.06. The firm has a market capitalization of $186.86 billion, a price-to-earnings ratio of 56.06, a PEG ratio of 1.70 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for 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 firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 EPS. As a group, research analysts expect that General Electric will post 4.15 EPS for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is 36.72%.

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.