Addison Advisors LLC Acquires 224 Shares of General Electric (NYSE:GE)

Addison Advisors LLC increased its holdings in shares of General Electric (NYSE:GE) by 11.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,227 shares of the conglomerate’s stock after acquiring an additional 224 shares during the period. Addison Advisors LLC’s holdings in General Electric were worth $354,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC raised its holdings in General Electric by 7.2% in the fourth quarter. Fisher Asset Management LLC now owns 13,791 shares of the conglomerate’s stock worth $1,760,000 after buying an additional 929 shares during the last quarter. Aveo Capital Partners LLC purchased a new position in shares of General Electric during the fourth quarter valued at approximately $203,000. Spire Wealth Management raised its holdings in shares of General Electric by 6.2% during the fourth quarter. Spire Wealth Management now owns 7,553 shares of the conglomerate’s stock valued at $980,000 after purchasing an additional 440 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of General Electric by 61.3% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,727 shares of the conglomerate’s stock valued at $476,000 after purchasing an additional 1,416 shares during the last quarter. Finally, Gryphon Financial Partners LLC raised its holdings in shares of General Electric by 57.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock valued at $1,526,000 after purchasing an additional 4,354 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. UBS Group upped their price target on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Jefferies Financial Group upped their price target 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. Finally, StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.38.

General Electric Trading Down 0.3 %

Shares of GE traded down $0.41 during midday trading on Friday, hitting $163.44. The stock had a trading volume of 650,102 shares, compared to its average volume of 6,681,213. 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 1 year low of $84.42 and a 1 year high of $177.20. The stock’s 50 day moving average is $165.74 and its 200 day moving average is $163.10. The firm has a market cap of $178.90 billion, a PE ratio of 53.43, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (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 analysts’ expectations of $8.44 billion. During the same period in the prior year, the business earned $0.68 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio is currently 36.72%.

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.