GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of General Electric (NYSE:GE – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,400 shares of the conglomerate’s stock, valued at approximately $264,000.
Several other institutional investors have also recently made changes to their positions in GE. Steward Financial Group LLC purchased a new stake in shares of General Electric during the second quarter worth about $26,000. Motco boosted its holdings in General Electric by 143.0% in the 2nd quarter. Motco now owns 294 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 173 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in shares of General Electric in the 2nd quarter valued at approximately $33,000. Global Wealth Management Investment Advisory Inc. raised its stake in shares of General Electric by 808.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 299 shares during the period. Finally, Syverson Strege & Co raised its stake in shares of General Electric by 53.6% in the 1st quarter. Syverson Strege & Co now owns 338 shares of the conglomerate’s stock valued at $32,000 after acquiring an additional 118 shares during the period. Hedge funds and other institutional investors own 74.83% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have commented on GE shares. Barclays increased their price objective on shares of General Electric from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, October 25th. The Goldman Sachs Group raised their target price on shares of General Electric from $121.00 to $133.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. Citigroup increased their price target on shares of General Electric from $126.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, July 27th. TheStreet downgraded shares of General Electric from a “b-” rating to a “c” rating in a report on Tuesday, October 24th. Finally, Argus raised their target price on shares of General Electric from $112.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.93.
General Electric Stock Performance
GE stock traded up $0.99 during midday trading on Friday, hitting $119.93. The stock had a trading volume of 4,139,400 shares, compared to its average volume of 5,910,168. The firm has a market capitalization of $130.53 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 3.28 and a beta of 1.26. The stock has a 50-day simple moving average of $111.70 and a 200 day simple moving average of $109.52. General Electric has a 52 week low of $59.57 and a 52 week 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.
General Electric (NYSE:GE – Get Free Report) last released its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $17.35 billion during the quarter, compared to analysts’ expectations of $15.46 billion. General Electric had a return on equity of 11.10% and a net margin of 14.38%. The firm’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 business posted $0.35 earnings per share. As a group, equities research analysts anticipate that General Electric will post 2.65 earnings per share for the current year.
General Electric Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Tuesday, September 26th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Monday, September 25th. General Electric’s dividend payout ratio (DPR) is presently 3.61%.
General Electric Company Profile
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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