General Electric (NYSE:GE) Shares Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC boosted its position in General Electric (NYSE:GE) by 75,103.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,561 shares of the conglomerate’s stock after purchasing an additional 22,531 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in General Electric were worth $3,587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GE. Macroview Investment Management LLC grew its holdings in General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. Allegheny Financial Group LTD grew its stake in General Electric by 1.4% in the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after purchasing an additional 61 shares in the last quarter. New England Research & Management Inc. increased its holdings in General Electric by 2.2% in the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after buying an additional 63 shares during the last quarter. Argent Trust Co increased its holdings in General Electric by 0.6% in the second quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock valued at $1,707,000 after buying an additional 64 shares during the last quarter. Finally, Choate Investment Advisors lifted its holdings in General Electric by 0.4% during the 1st quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock worth $2,808,000 after buying an additional 65 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GE shares. Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group increased their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Royal Bank of Canada lifted their price target on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wells Fargo & Company increased their price objective on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, UBS Group lifted their target price on General Electric from $201.00 to $209.00 and gave the company 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 given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $191.36.

General Electric Trading Up 0.7 %

Shares of GE stock opened at $187.43 on Friday. General Electric has a 1 year low of $84.42 and a 1 year high of $187.99. The firm has a market capitalization of $205.16 billion, a PE ratio of 61.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The stock has a fifty day moving average of $168.69 and a two-hundred day moving average of $170.77. 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 (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during 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 company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. As a group, research analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a dividend of $0.28 per share. The ex-dividend date 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 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.