Legacy Financial Advisors Inc. Increases Position in General Electric (NYSE:GE)

Legacy Financial Advisors Inc. lifted its position in shares of General Electric (NYSE:GE) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,872 shares of the conglomerate’s stock after acquiring an additional 303 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in General Electric were worth $1,092,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GE. Rathbones Group PLC increased its position in shares of General Electric by 2.7% in the fourth quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock valued at $28,821,000 after buying an additional 5,997 shares in the last quarter. Vanguard Group Inc. increased its holdings in General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after acquiring an additional 550,996 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in General Electric by 3.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 288,224 shares of the conglomerate’s stock worth $36,786,000 after acquiring an additional 8,788 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after purchasing an additional 3,442 shares in the last quarter. Finally, Makena Capital Management LLC increased its stake in shares of General Electric by 26.2% during the 4th quarter. Makena Capital Management LLC now owns 149,855 shares of the conglomerate’s stock worth $19,126,000 after purchasing an additional 31,107 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Price Performance

GE stock opened at $187.39 on Friday. The company has a market capitalization of $205.12 billion, a PE ratio of 61.44, a P/E/G ratio of 1.65 and a beta of 1.18. 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’s 50 day moving average is $168.69 and its two-hundred day moving average is $170.96. 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 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. The firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS. Analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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 of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.60%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company increased their target price on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Sanford C. Bernstein assumed coverage on shares of General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price on the stock. Barclays boosted their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, UBS Group lifted their target price on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.36.

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.