Raymond James Trust N.A. Buys 3,223 Shares of General Electric (NYSE:GE)

Raymond James Trust N.A. lifted its position in shares of General Electric (NYSE:GE) by 8.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,113 shares of the conglomerate’s stock after purchasing an additional 3,223 shares during the quarter. Raymond James Trust N.A.’s holdings in General Electric were worth $6,854,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. USA Financial Formulas increased its holdings in shares of General Electric by 24,042.9% during the fourth quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock worth $1,294,000 after buying an additional 10,098 shares in the last quarter. Rathbones Group PLC increased its position in shares of General Electric by 2.7% during the fourth quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock worth $28,821,000 after acquiring an additional 5,997 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in General Electric by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate’s stock worth $534,123,000 after purchasing an additional 318,245 shares in the last quarter. Vanguard Group Inc. raised its position in General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after buying an additional 550,996 shares during the last quarter. Finally, Sheets Smith Wealth Management acquired a new stake in shares of General Electric in the fourth quarter valued at approximately $3,959,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the topic of several analyst reports. Barclays upped their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Wells Fargo & Company lifted their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Royal Bank of Canada upped their price target on shares of 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 raised 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 analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $190.38.

General Electric Trading Up 0.9 %

Shares of NYSE:GE traded up $1.54 during trading on Friday, reaching $171.22. The stock had a trading volume of 4,058,017 shares, compared to its average volume of 6,834,152. General Electric has a 52 week low of $84.42 and a 52 week high of $177.20. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The firm’s fifty day moving average is $164.39 and its 200 day moving average is $161.68. The stock has a market cap of $187.42 billion, a price-to-earnings ratio of 56.14, a P/E/G ratio of 1.70 and a beta of 1.21.

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

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders 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 0.65%. General Electric’s dividend payout ratio is currently 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.