Cypress Capital Group Purchases 273 Shares of General Electric (NYSE:GE)

Cypress Capital Group grew its holdings in General Electric (NYSE:GE) by 17.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,797 shares of the conglomerate’s stock after purchasing an additional 273 shares during the quarter. Cypress Capital Group’s holdings in General Electric were worth $286,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. MFA Wealth Advisors LLC acquired a new position in shares of General Electric during the 2nd quarter worth about $31,000. Richardson Financial Services Inc. bought a new position in shares of General Electric during the first quarter worth $34,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of General Electric in the 1st quarter valued at $37,000. Macroview Investment Management LLC raised its stake in General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after buying an additional 58 shares during the period. Finally, Horrell Capital Management Inc. bought a new stake in shares of General Electric in the first quarter worth about $44,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GE shares. Deutsche Bank Aktiengesellschaft boosted their price objective on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Royal Bank of Canada increased their price objective on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. UBS Group increased their price target on 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 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’s stock. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.38.

General Electric Stock Performance

Shares of NYSE:GE traded down $0.48 on Monday, hitting $170.74. The company had a trading volume of 969,189 shares, compared to its average volume of 6,799,278. The stock has a market cap of $186.89 billion, a price-to-earnings ratio of 55.93, a P/E/G ratio of 1.70 and a beta of 1.21. The stock has a 50 day moving average price of $164.39 and a 200 day moving average price of $161.68. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

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

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio is 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.