General Electric (NYSE:GE) Shares Bought by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC grew its stake in shares of General Electric (NYSE:GE) by 15.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 87,014 shares of the conglomerate’s stock after acquiring an additional 11,536 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in General Electric were worth $13,175,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Studio Investment Management LLC raised its stake in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the period. MFA Wealth Advisors LLC acquired a new position in shares of General Electric in the second quarter worth $31,000. Kapitalo Investimentos Ltda acquired a new position in shares of General Electric in the fourth quarter worth $32,000. Financial Connections Group Inc. acquired a new position in shares of General Electric in the second quarter worth $32,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of General Electric in the first quarter worth $34,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GE. Royal Bank of Canada increased their target price on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Company increased their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Sanford C. Bernstein initiated coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target for the company. Jefferies Financial Group upped their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Barclays upped their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Stock Performance

NYSE:GE opened at $180.32 on Wednesday. General Electric has a 12-month low of $84.42 and a 12-month high of $182.43. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $197.38 billion, a PE ratio of 59.12, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The firm has a 50-day moving average price of $167.28 and a 200 day moving average price of $170.87.

General Electric (NYSE:GE) 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 firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 26th. 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.