Clearwater Capital Advisors LLC Makes New Investment in General Electric (NYSE:GE)

Clearwater Capital Advisors LLC acquired a new position in shares of General Electric (NYSE:GE) in the second quarter, HoldingsChannel reports. The fund acquired 1,384 shares of the conglomerate’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GE. Vanguard Group Inc. increased its stake in General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after purchasing an additional 550,996 shares in the last quarter. Capital International Investors increased its stake in General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after purchasing an additional 5,309,543 shares in the last quarter. Capital World Investors raised its holdings in General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares during the period. Norges Bank bought a new position in General Electric in the fourth quarter valued at approximately $1,193,159,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the period. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on GE shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. UBS Group boosted their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Jefferies Financial Group raised their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada raised their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average price target of $190.38.

General Electric Stock Performance

General Electric stock traded down $2.62 during midday trading on Friday, hitting $161.23. The company’s stock had a trading volume of 3,954,854 shares, compared to its average volume of 6,700,422. The company has a 50-day moving average price of $165.78 and a two-hundred day moving average price of $163.28. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20. The company has a market cap of $176.48 billion, a price-to-earnings ratio of 52.86, a PEG ratio of 1.73 and a beta of 1.18. 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) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) 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 analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. As a group, sell-side analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. General Electric’s dividend payout ratio (DPR) is 36.72%.

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.