ASB Consultores LLC Acquires 742 Shares of General Electric (NYSE:GE)

ASB Consultores LLC boosted its holdings in shares of General Electric (NYSE:GE) by 45.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,368 shares of the conglomerate’s stock after buying an additional 742 shares during the period. ASB Consultores LLC’s holdings in General Electric were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Bridges Investment Management Inc. increased its holdings in shares of General Electric by 20.1% in the second quarter. Bridges Investment Management Inc. now owns 9,422 shares of the conglomerate’s stock valued at $1,498,000 after purchasing an additional 1,579 shares during the period. Callan Capital LLC increased its holdings in shares of General Electric by 163.7% in the second quarter. Callan Capital LLC now owns 5,525 shares of the conglomerate’s stock valued at $878,000 after purchasing an additional 3,430 shares during the period. Benjamin Edwards Inc. increased its holdings in shares of General Electric by 6.8% in the second quarter. Benjamin Edwards Inc. now owns 1,369 shares of the conglomerate’s stock valued at $218,000 after purchasing an additional 87 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of General Electric by 8.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 11,616 shares of the conglomerate’s stock valued at $1,847,000 after purchasing an additional 936 shares during the period. Finally, Ieq Capital LLC increased its holdings in shares of General Electric by 4.6% in the second quarter. Ieq Capital LLC now owns 42,347 shares of the conglomerate’s stock valued at $6,732,000 after purchasing an additional 1,868 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GE shares. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Sanford C. Bernstein started coverage on General Electric in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price on the stock. UBS Group upped their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. 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 research report on Friday, June 28th. Finally, Barclays increased their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Price Performance

GE stock opened at $186.16 on Friday. The business has a fifty day moving average of $168.12 and a two-hundred day moving average of $171.06. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The stock has a market cap of $203.77 billion, a price-to-earnings ratio of 61.04, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. General Electric has a 52-week low of $84.42 and a 52-week high of $187.99.

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, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 earnings per share. As a group, research analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.60%. General Electric’s dividend payout ratio (DPR) is 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.