Ensign Peak Advisors Inc Boosts Holdings in General Electric (NYSE:GE)

Ensign Peak Advisors Inc grew its position in General Electric (NYSE:GE) by 280.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,485,097 shares of the conglomerate’s stock after acquiring an additional 1,095,093 shares during the quarter. Ensign Peak Advisors Inc owned about 0.14% of General Electric worth $236,086,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Studio Investment Management LLC lifted its stake in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. MFA Wealth Advisors LLC bought a new position in General Electric in the 2nd quarter valued at $31,000. Richardson Financial Services Inc. purchased a new stake in General Electric in the first quarter worth $34,000. Financial Connections Group Inc. bought a new stake in shares of General Electric during the second quarter worth $32,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in shares of General Electric during the first quarter valued at $37,000. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays raised their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company increased their price objective on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. 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, Sanford C. Bernstein initiated coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price objective for the company. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $191.36.

General Electric Stock Up 0.7 %

Shares of General Electric stock opened at $187.39 on Friday. General Electric has a 52-week low of $84.42 and a 52-week high of $187.99. The firm’s 50 day moving average price is $168.69 and its 200-day moving average price is $170.96. 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 company has a market cap of $205.12 billion, a P/E ratio of 61.44, a PEG ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last released its quarterly 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. 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 analyst estimates of $8.44 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

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 of this dividend is Thursday, September 26th. 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.