Wulff Hansen & CO. Raises Stake in General Electric (NYSE:GE)

Wulff Hansen & CO. grew its position in General Electric (NYSE:GE) by 18.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,153 shares of the conglomerate’s stock after purchasing an additional 1,565 shares during the quarter. General Electric makes up about 1.5% of Wulff Hansen & CO.’s investment portfolio, making the stock its 18th largest holding. Wulff Hansen & CO.’s holdings in General Electric were worth $1,614,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rathbones Group PLC lifted its holdings in General Electric by 2.7% in the 4th quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock worth $28,821,000 after purchasing an additional 5,997 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after buying an additional 550,996 shares in 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 worth $2,702,000 after buying an additional 3,442 shares in the last quarter. Marietta Investment Partners LLC purchased a new position in General Electric during the second quarter valued at $1,569,000. Finally, Blair William & Co. IL grew its stake in General Electric by 4.4% during the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after acquiring an additional 7,670 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Up 0.7 %

Shares of NYSE:GE opened at $188.71 on Tuesday. The firm has a market capitalization of $206.56 billion, a PE ratio of 61.87, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The business has a 50 day simple moving average of $169.27 and a two-hundred day simple moving average of $170.43. General Electric has a 1 year low of $84.42 and a 1 year high of $189.78. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the previous year, the business earned $0.68 EPS. General Electric’s revenue was up 3.9% compared to the same quarter last year. On average, equities analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

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 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 yield of 0.59%. General Electric’s payout ratio is 36.72%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada increased their price objective 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. Sanford C. Bernstein initiated coverage on General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target for the company. Jefferies Financial Group lifted their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft increased their target price on General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays boosted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price 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.