Bridges Investment Management Inc. Acquires 1,579 Shares of General Electric (NYSE:GE)

Bridges Investment Management Inc. boosted its holdings in shares of General Electric (NYSE:GE) by 20.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,422 shares of the conglomerate’s stock after purchasing an additional 1,579 shares during the period. Bridges Investment Management Inc.’s holdings in General Electric were worth $1,498,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GE. Callan Capital LLC boosted its stake in shares of General Electric by 163.7% in the 2nd 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 in the last quarter. Benjamin Edwards Inc. boosted its position in 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 buying an additional 87 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in General Electric by 8.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 11,616 shares of the conglomerate’s stock worth $1,847,000 after buying an additional 936 shares during the last quarter. Ieq Capital LLC increased its holdings in shares of General Electric by 4.6% during the second quarter. Ieq Capital LLC now owns 42,347 shares of the conglomerate’s stock worth $6,732,000 after buying an additional 1,868 shares in the last quarter. Finally, Brighton Jones LLC raised its stake in shares of General Electric by 1.3% in the second quarter. Brighton Jones LLC now owns 8,020 shares of the conglomerate’s stock valued at $1,275,000 after acquiring an additional 106 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GE shares. UBS Group increased their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Sanford C. Bernstein began coverage on General Electric in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price for the company. Wells Fargo & Company upped their price target 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. Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Barclays upped 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 research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $191.36.

General Electric Price Performance

Shares of GE opened at $187.39 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market cap of $205.12 billion, a P/E ratio of 61.44, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The stock’s 50-day moving average price is $168.69 and its two-hundred day moving average price is $170.96. General Electric has a 1 year low of $84.42 and a 1 year high of $187.99.

General Electric (NYSE:GE) last issued 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 firm had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. On average, equities analysts predict 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 issued a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.60%. General Electric’s dividend payout ratio is presently 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.