Friedenthal Financial Acquires New Position in General Electric (NYSE:GE)

Friedenthal Financial bought a new stake in General Electric (NYSE:GE) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,650 shares of the conglomerate’s stock, valued at approximately $739,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sapient Capital LLC acquired a new position in General Electric during the fourth quarter worth about $331,000. Perigon Wealth Management LLC raised its position in shares of General Electric by 2.2% during the 4th quarter. Perigon Wealth Management LLC now owns 11,285 shares of the conglomerate’s stock worth $1,440,000 after purchasing an additional 246 shares during the last quarter. Meitav Investment House Ltd. purchased a new stake in General Electric in the 4th quarter valued at approximately $234,000. NewEdge Wealth LLC grew its holdings in General Electric by 2.9% during the 4th quarter. NewEdge Wealth LLC now owns 6,775 shares of the conglomerate’s stock valued at $865,000 after buying an additional 192 shares during the last quarter. Finally, Live Oak Private Wealth LLC purchased a new position in General Electric during the fourth quarter worth $219,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GE shares. Bank of America lifted their price objective on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group raised their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. UBS Group increased 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. Barclays lifted their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Argus increased their target price on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $190.38.

Insider Transactions at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

General Electric Stock Up 0.7 %

GE traded up $1.09 on Tuesday, reaching $167.96. The company’s stock had a trading volume of 2,932,723 shares, compared to its average volume of 6,993,222. General Electric has a 1 year low of $84.42 and a 1 year high of $177.20. The business’s 50 day moving average is $162.80 and its 200 day moving average is $159.73. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The stock has a market cap of $183.85 billion, a price-to-earnings ratio of 55.07, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. As a group, research analysts forecast that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio is presently 36.72%.

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.