Cornerstone Advisors LLC trimmed its holdings in shares of General Electric (NYSE:GE – Free Report) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,700 shares of the conglomerate’s stock after selling 300 shares during the period. Cornerstone Advisors LLC’s holdings in General Electric were worth $7,901,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Studio Investment Management LLC boosted its stake in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the period. MFA Wealth Advisors LLC acquired a new position in shares of General Electric during the second quarter valued at $31,000. Kapitalo Investimentos Ltda bought a new stake in shares of General Electric during the 4th quarter worth about $32,000. Financial Connections Group Inc. acquired a new stake in General Electric in the second quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of General Electric during the 1st quarter valued at $34,000. 74.77% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
GE has been the topic of several research reports. Barclays boosted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.14.
General Electric Stock Up 5.1 %
GE opened at $178.28 on Monday. General Electric has a 1-year low of $84.42 and a 1-year high of $179.32. The business has a 50 day moving average of $166.57 and a 200-day moving average of $171.10. The stock has a market capitalization of $195.15 billion, a price-to-earnings ratio of 58.45, a P/E/G ratio of 1.65 and a beta of 1.18. 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 – Get Free Report) last posted its quarterly 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. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the business posted $0.68 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that General Electric will post 4.2 earnings per share for the current year.
General Electric Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.63%. General Electric’s dividend payout ratio (DPR) 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.
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