Princeton Capital Management LLC Acquires 2,630 Shares of General Electric (NYSE:GE)

Princeton Capital Management LLC grew its holdings in shares of General Electric (NYSE:GE) by 23.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,628 shares of the conglomerate’s stock after acquiring an additional 2,630 shares during the quarter. General Electric comprises 0.7% of Princeton Capital Management LLC’s investment portfolio, making the stock its 27th largest position. Princeton Capital Management LLC’s holdings in General Electric were worth $2,166,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GE. MFA Wealth Advisors LLC bought a new position in shares of General Electric in the 2nd quarter worth $31,000. Richardson Financial Services Inc. bought a new position in General Electric in the first quarter valued at $34,000. Financial Connections Group Inc. purchased a new stake in General Electric during the second quarter valued at about $32,000. ANTIPODES PARTNERS Ltd bought a new stake in General Electric during the first quarter worth about $37,000. Finally, Macroview Investment Management LLC boosted its holdings in shares of General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of several research reports. UBS Group upped their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. JPMorgan Chase & Co. increased their target price on shares of General Electric from $148.00 to $175.00 and gave the company 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 research note on Monday, July 29th. Royal Bank of Canada lifted their price objective on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $190.38.

General Electric Stock Up 0.6 %

Shares of NYSE GE opened at $174.62 on Tuesday. The firm has a fifty day simple moving average of $165.47 and a two-hundred day simple moving average of $162.96. General Electric has a 12 month low of $84.42 and a 12 month high of $177.20. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $189.34 billion, a PE ratio of 57.25, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21.

General Electric (NYSE:GE) last released its quarterly earnings results 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 company had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. Equities analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. 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.