General Electric (NYSE:GE) Stock Holdings Lessened by Waters Parkerson & CO. LLC

Waters Parkerson & CO. LLC lessened its stake in shares of General Electric (NYSE:GE) by 6.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,617 shares of the conglomerate’s stock after selling 256 shares during the period. Waters Parkerson & CO. LLC’s holdings in General Electric were worth $575,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Studio Investment Management LLC lifted its position in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares in the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of General Electric during the second quarter valued at $31,000. Richardson Financial Services Inc. acquired a new position in General Electric during the first quarter valued at $34,000. Financial Connections Group Inc. acquired a new stake in General Electric during the 2nd quarter worth about $32,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in General Electric during the 1st quarter valued at about $37,000. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on GE. Barclays upped their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Jefferies Financial Group raised their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Sanford C. Bernstein started coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Trading Up 1.4 %

Shares of GE opened at $186.16 on Friday. The stock’s 50-day moving average price is $168.12 and its 200 day moving average price is $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 firm has a market capitalization of $203.77 billion, a price-to-earnings ratio of 61.04, a P/E/G ratio of 1.65 and a beta of 1.18. General Electric has a 12-month low of $84.42 and a 12-month high of $187.99.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (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 analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 earnings per share. As a group, research analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

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