Gries Financial LLC Has $239,000 Position in General Electric (NYSE:GE)

Gries Financial LLC trimmed its position in General Electric (NYSE:GE) by 52.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,506 shares of the conglomerate’s stock after selling 1,643 shares during the period. Gries Financial LLC’s holdings in General Electric were worth $239,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GE. Belpointe Asset Management LLC raised its stake in General Electric by 0.4% during the 2nd quarter. Belpointe Asset Management LLC now owns 46,125 shares of the conglomerate’s stock worth $7,332,000 after buying an additional 179 shares during the period. Larson Financial Group LLC lifted its stake in General Electric by 7.4% in the second quarter. Larson Financial Group LLC now owns 25,707 shares of the conglomerate’s stock valued at $4,087,000 after buying an additional 1,778 shares in the last quarter. Wealth Effects LLC acquired a new position in shares of General Electric in the second quarter valued at approximately $336,000. Weaver Capital Management LLC increased its position in shares of General Electric by 97.8% during the second quarter. Weaver Capital Management LLC now owns 4,784 shares of the conglomerate’s stock worth $761,000 after acquiring an additional 2,366 shares in the last quarter. Finally, Cozad Asset Management Inc. increased its position in shares of General Electric by 21.0% during the second quarter. Cozad Asset Management Inc. now owns 1,405 shares of the conglomerate’s stock worth $223,000 after acquiring an additional 244 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Up 1.3 %

Shares of NYSE:GE opened at $166.36 on Thursday. General Electric has a 12-month low of $84.42 and a 12-month high of $177.20. The business has a 50 day moving average of $165.67 and a 200-day moving average of $163.09. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The stock has a market cap of $180.39 billion, a PE ratio of 54.54, a P/E/G 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, beating the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the previous year, the company posted $0.68 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts forecast that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Analyst Ratings Changes

GE has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped their target price 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. Jefferies Financial Group upped their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Barclays boosted their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. UBS Group raised their target price on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.38.

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.