AlphaStar Capital Management LLC Purchases 1,030 Shares of General Electric (NYSE:GE)

AlphaStar Capital Management LLC raised its position in shares of General Electric (NYSE:GE) by 54.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,926 shares of the conglomerate’s stock after acquiring an additional 1,030 shares during the period. AlphaStar Capital Management LLC’s holdings in General Electric were worth $465,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Macroview Investment Management LLC boosted its stake in 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 acquiring an additional 58 shares in the last quarter. New England Research & Management Inc. boosted its position in shares of General Electric by 2.2% during the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after purchasing an additional 63 shares in the last quarter. Choate Investment Advisors boosted its position in shares of General Electric by 0.4% during the 1st quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock worth $2,808,000 after purchasing an additional 65 shares in the last quarter. Walker Asset Management LLC grew its stake in shares of General Electric by 1.7% in the 1st quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock valued at $722,000 after buying an additional 70 shares during the period. Finally, Trust Co of the South increased its position in General Electric by 1.2% in the 2nd quarter. Trust Co of the South now owns 5,909 shares of the conglomerate’s stock valued at $939,000 after buying an additional 70 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on GE. Jefferies Financial Group increased their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft increased their target price on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Royal Bank of Canada boosted their price target on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. UBS Group raised their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, JPMorgan Chase & Co. boosted their target price 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 investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.38.

General Electric Stock Performance

NYSE GE traded down $0.77 during trading on Tuesday, hitting $170.45. 1,051,796 shares of the company’s stock traded hands, compared to its average volume of 6,780,447. The stock has a market capitalization of $186.58 billion, a price-to-earnings ratio of 56.04, a PEG ratio of 1.70 and a beta of 1.21. 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 business has a 50 day moving average of $164.55 and a 200-day moving average of $161.91. General Electric has a 12-month low of $84.42 and a 12-month high of $177.20.

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

General Electric Announces Dividend

The firm also recently declared 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. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s payout ratio is currently 36.72%.

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.