Waterloo Capital L.P. Decreases Stock Holdings in General Electric (NYSE:GE)

Waterloo Capital L.P. lessened its holdings in General Electric (NYSE:GE) by 33.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,987 shares of the conglomerate’s stock after selling 983 shares during the quarter. Waterloo Capital L.P.’s holdings in General Electric were worth $316,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Studio Investment Management LLC increased its holdings 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 during the last quarter. MFA Wealth Advisors LLC acquired a new stake in General Electric during the second quarter worth approximately $31,000. Richardson Financial Services Inc. purchased a new stake in shares of General Electric during the 1st quarter worth approximately $34,000. Financial Connections Group Inc. acquired a new position in shares of General Electric in the 2nd quarter valued at $32,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of General Electric in the 1st quarter valued at $37,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on GE. Royal Bank of Canada upped their price objective 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. Jefferies Financial Group upped their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Wells Fargo & Company lifted their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. UBS Group increased their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Finally, Barclays raised their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Stock Up 1.4 %

GE stock opened at $186.16 on Friday. The stock has a market capitalization of $203.77 billion, a PE ratio of 61.04, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The company has a fifty day moving average of $168.12 and a 200-day moving average of $171.06. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. General Electric has a one year low of $84.42 and a one year high of $187.99.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter last year, the firm earned $0.68 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. As a group, analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

About General Electric

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.