Cetera Advisors LLC boosted its holdings in shares of General Electric (NYSE:GE – Free Report) by 6.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,031 shares of the conglomerate’s stock after buying an additional 2,308 shares during the quarter. Cetera Advisors LLC’s holdings in General Electric were worth $4,068,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the business. Cetera Advisor Networks LLC grew its holdings in General Electric by 16.6% during the second quarter. Cetera Advisor Networks LLC now owns 87,099 shares of the conglomerate’s stock worth $9,568,000 after acquiring an additional 12,368 shares during the period. Egerton Capital UK LLP acquired a new stake in shares of General Electric during the 2nd quarter worth approximately $418,951,000. Strategic Financial Services Inc increased its holdings in shares of General Electric by 7.9% during the 2nd quarter. Strategic Financial Services Inc now owns 4,059 shares of the conglomerate’s stock valued at $455,000 after purchasing an additional 297 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of General Electric by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,838,834 shares of the conglomerate’s stock valued at $421,632,000 after purchasing an additional 62,286 shares in the last quarter. Finally, Veritable L.P. lifted its stake in shares of General Electric by 5.0% in the 2nd quarter. Veritable L.P. now owns 25,352 shares of the conglomerate’s stock valued at $2,785,000 after purchasing an additional 1,210 shares during the period. 74.83% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on GE. Morgan Stanley lifted their price objective on shares of General Electric from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, August 10th. Citigroup lifted their price target on General Electric from $126.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Barclays increased their price target on General Electric from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 25th. The Goldman Sachs Group boosted their price objective on General Electric from $121.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on General Electric in a research note on Wednesday, September 27th. They set a “buy” rating and a $141.00 target price for the company. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.93.
General Electric Trading Up 0.8 %
Shares of GE opened at $119.93 on Friday. General Electric has a twelve month low of $59.57 and a twelve month high of $120.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $130.53 billion, a P/E ratio of 13.52, a PEG ratio of 3.28 and a beta of 1.26. The firm’s 50-day moving average is $111.70 and its two-hundred day moving average is $109.46.
General Electric (NYSE:GE – Get Free Report) last released its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. The business had revenue of $17.35 billion for the quarter, compared to analyst estimates of $15.46 billion. General Electric had a net margin of 14.38% and a return on equity of 11.10%. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 EPS. On average, research analysts predict that General Electric will post 2.65 earnings per share for the current fiscal year.
General Electric Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Tuesday, September 26th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Monday, September 25th. General Electric’s payout ratio is 3.61%.
About General Electric
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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