General Electric (NYSE:GE) is Gladstone Capital Management LLP’s 5th Largest Position

Gladstone Capital Management LLP lifted its position in shares of General Electric (NYSE:GE) by 1,783.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 797,681 shares of the conglomerate’s stock after purchasing an additional 755,319 shares during the quarter. General Electric comprises 11.2% of Gladstone Capital Management LLP’s investment portfolio, making the stock its 5th biggest holding. Gladstone Capital Management LLP owned approximately 0.07% of General Electric worth $126,807,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Studio Investment Management LLC lifted its holdings in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. MFA Wealth Advisors LLC bought a new position in General Electric during the 2nd quarter valued at approximately $31,000. Kapitalo Investimentos Ltda purchased a new position in General Electric during the fourth quarter valued at $32,000. Financial Connections Group Inc. bought a new stake in General Electric in the second quarter worth $32,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of General Electric in the first quarter worth $34,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GE. Royal Bank of Canada lifted their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. UBS Group upped 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. Sanford C. Bernstein initiated coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target on the stock. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Barclays increased their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note 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. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price of $191.36.

General Electric Stock Up 0.7 %

General Electric stock opened at $187.43 on Monday. The stock has a market cap 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 company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The stock has a fifty day moving average of $168.69 and a 200 day moving average of $170.57. General Electric has a one year low of $84.42 and a one year high of $187.99.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 EPS. As a group, sell-side analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date 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.