Meiji Yasuda Asset Management Co Ltd. Increases Stock Holdings in General Electric (NYSE:GE)

Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of General Electric (NYSE:GE) by 7.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,457 shares of the conglomerate’s stock after purchasing an additional 1,424 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in General Electric were worth $3,411,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GE. Argent Trust Co grew its holdings in shares of General Electric by 0.6% during the 2nd quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock worth $1,707,000 after acquiring an additional 64 shares during the period. Meiji Yasuda Life Insurance Co boosted its position in shares of General Electric by 20.4% during the second quarter. Meiji Yasuda Life Insurance Co now owns 64,398 shares of the conglomerate’s stock valued at $10,237,000 after purchasing an additional 10,927 shares in the last quarter. Disciplined Investments LLC purchased a new stake in General Electric in the second quarter worth $222,000. Bradley Foster & Sargent Inc. CT raised its holdings in General Electric by 174.2% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 50,029 shares of the conglomerate’s stock worth $7,953,000 after purchasing an additional 31,786 shares in the last quarter. Finally, Plancorp LLC lifted its position in General Electric by 0.9% during the second quarter. Plancorp LLC now owns 12,134 shares of the conglomerate’s stock valued at $1,929,000 after buying an additional 112 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group upped their target price 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. Wells Fargo & Company raised their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada boosted their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Sanford C. Bernstein initiated coverage on General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective for the company. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Trading Up 1.8 %

Shares of NYSE:GE opened at $183.54 on Thursday. 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 $185.77. The company has a market cap of $200.90 billion, a P/E ratio of 60.18, a PEG ratio of 1.65 and a beta of 1.18. The stock’s fifty day moving average price is $167.63 and its 200-day moving average price is $170.96.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the prior year, the business earned $0.68 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.61%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend 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.