General Electric (NYSE:GE) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. raised its holdings in General Electric (NYSE:GE) by 10.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 114,530 shares of the conglomerate’s stock after acquiring an additional 10,609 shares during the quarter. Pacer Advisors Inc.’s holdings in General Electric were worth $18,207,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Studio Investment Management LLC boosted its holdings in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric during the 2nd quarter worth approximately $31,000. Kapitalo Investimentos Ltda acquired a new stake in shares of General Electric in the 4th quarter worth approximately $32,000. Financial Connections Group Inc. purchased a new position in General Electric in the 2nd quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. acquired a new position in General Electric during the first quarter worth $34,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GE has been the subject of a number of research analyst reports. Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group lifted their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Wells Fargo & Company upped their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. UBS Group raised their price objective 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. Finally, Royal Bank of Canada increased their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $191.36.

General Electric Price Performance

Shares of NYSE:GE opened at $187.43 on Monday. The business has a fifty day simple moving average of $168.69 and a 200-day simple moving average of $170.57. General Electric has a 52 week low of $84.42 and a 52 week high of $187.99. The company has a market cap of $205.16 billion, a P/E ratio of 61.45, 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.

General Electric (NYSE:GE) last posted 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 company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 EPS. Equities research analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is currently 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.