General Electric (NYSE:GE) Holdings Lifted by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC grew its holdings in shares of General Electric (NYSE:GE) by 4.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,450 shares of the conglomerate’s stock after buying an additional 562 shares during the period. Premier Path Wealth Partners LLC’s holdings in General Electric were worth $2,138,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MFA Wealth Advisors LLC acquired a new position in General Electric during the 2nd quarter valued at about $31,000. Richardson Financial Services Inc. bought a new position in shares of General Electric in the first quarter valued at approximately $34,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of General Electric during the first quarter valued at approximately $37,000. Macroview Investment Management LLC increased its stake in shares of General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 58 shares during the period. Finally, Horrell Capital Management Inc. bought a new stake in General Electric during the first quarter worth approximately $44,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Up 0.8 %

NYSE:GE traded up $1.42 during mid-day trading on Friday, reaching $171.10. The stock had a trading volume of 4,055,977 shares, compared to its average volume of 6,834,152. The stock has a market cap of $187.29 billion, a P/E ratio of 56.10, a PEG ratio of 1.70 and a beta of 1.21. The business’s 50 day moving average is $164.39 and its 200 day moving average is $161.35. 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 has a fifty-two week low of $84.42 and a fifty-two week high of $177.20.

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

General Electric Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio is 36.72%.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research reports. Royal Bank of Canada increased their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Barclays raised their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Citigroup boosted their target price on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $190.38.

General Electric 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.