Blue Bell Private Wealth Management LLC Grows Position in General Electric (NYSE:GE)

Blue Bell Private Wealth Management LLC boosted its position in shares of General Electric (NYSE:GE) by 224.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,490 shares of the conglomerate’s stock after acquiring an additional 1,723 shares during the quarter. Blue Bell Private Wealth Management LLC’s holdings in General Electric were worth $396,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GE. MFA Wealth Advisors LLC acquired a new position in General Electric in the 2nd quarter valued at about $31,000. Kapitalo Investimentos Ltda acquired a new position in shares of General Electric in the fourth quarter valued at approximately $32,000. Financial Connections Group Inc. acquired a new position in shares of General Electric in the second quarter valued at approximately $32,000. Richardson Financial Services Inc. purchased a new stake in shares of General Electric during the first quarter worth approximately $34,000. Finally, Macroview Investment Management LLC lifted its holdings 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 worth $34,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 1.5 %

GE opened at $163.91 on Friday. The business’s fifty day simple moving average is $165.74 and its 200 day simple moving average is $163.10. General Electric has a 52 week low of $84.42 and a 52 week high of $177.20. The firm has a market cap of $179.42 billion, a P/E ratio of 53.74, a PEG ratio of 1.73 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The business 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%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 earnings per share. As a group, equities research analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio is presently 36.72%.

Analyst Ratings Changes

GE has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Barclays boosted their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group upped their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Royal Bank of Canada increased their target price on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $190.38.

General Electric Company 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.