American Planning Services Inc. Purchases New Stake in General Electric (NYSE:GE)

American Planning Services Inc. acquired a new position in shares of General Electric (NYSE:GE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,222 shares of the conglomerate’s stock, valued at approximately $1,307,000. General Electric accounts for approximately 0.9% of American Planning Services Inc.’s portfolio, making the stock its 23rd biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Studio Investment Management LLC increased its stake in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the last quarter. MFA Wealth Advisors LLC acquired a new position in General Electric in the 2nd quarter worth about $31,000. Richardson Financial Services Inc. purchased a new stake in shares of General Electric during the 1st quarter worth about $34,000. Financial Connections Group Inc. acquired a new stake in shares of General Electric during the 2nd quarter valued at about $32,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of General Electric in the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 5.1 %

Shares of GE stock opened at $178.28 on Monday. 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 has a 1 year low of $84.42 and a 1 year high of $179.32. The firm’s fifty day simple moving average is $166.57 and its 200 day simple moving average is $171.10. The firm has a market capitalization of $195.15 billion, a P/E ratio of 58.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business 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 earned $0.68 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, sell-side analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is presently 36.72%.

Analyst Ratings Changes

Several equities analysts recently weighed in on GE shares. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Barclays lifted 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. 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. Royal Bank of Canada raised their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, UBS Group upped their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $191.14.

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.