Callan Capital LLC Has $878,000 Stake in General Electric (NYSE:GE)

Callan Capital LLC boosted its position in shares of General Electric (NYSE:GE) by 163.7% in the second quarter, Holdings Channel reports. The fund owned 5,525 shares of the conglomerate’s stock after acquiring an additional 3,430 shares during the period. Callan Capital LLC’s holdings in General Electric were worth $878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Macroview Investment Management LLC increased its stake in General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. Allegheny Financial Group LTD increased its stake in General Electric by 1.4% in the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after buying an additional 61 shares during the last quarter. New England Research & Management Inc. increased its stake in General Electric by 2.2% in the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after buying an additional 63 shares during the last quarter. Argent Trust Co increased its stake in General Electric by 0.6% in the 2nd quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock valued at $1,707,000 after buying an additional 64 shares during the last quarter. Finally, Choate Investment Advisors increased its stake in General Electric by 0.4% in the 1st quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock valued at $2,808,000 after buying an additional 65 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

GE stock opened at $186.16 on Friday. The company has a 50 day simple moving average of $168.12 and a 200 day simple moving average of $171.06. The stock has a market cap of $203.77 billion, a price-to-earnings ratio of 61.04, a P/E/G ratio of 1.65 and a beta of 1.18. General Electric has a 1 year low of $84.42 and a 1 year high of $187.99. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 EPS. Research analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is 36.72%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GE. Jefferies Financial Group lifted their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada boosted their price objective on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, UBS Group boosted their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $191.14.

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.