Argent Trust Co Increases Stock Holdings in General Electric (NYSE:GE)

Argent Trust Co grew its holdings in shares of General Electric (NYSE:GE) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,737 shares of the conglomerate’s stock after purchasing an additional 64 shares during the quarter. Argent Trust Co’s holdings in General Electric were worth $1,707,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in GE. Studio Investment Management LLC increased 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 valued at $25,000 after buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric in the 2nd quarter worth $31,000. Richardson Financial Services Inc. bought a new position in General Electric in the 1st quarter worth $34,000. Financial Connections Group Inc. purchased a new position in General Electric during the second quarter valued at $32,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in General Electric during the first quarter valued at about $37,000. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 1.8 %

GE opened at $183.54 on Thursday. The stock has a 50-day moving average of $167.63 and a 200 day moving average of $170.96. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12 month low of $84.42 and a 12 month high of $185.77. The firm has a market cap of $200.90 billion, a P/E ratio of 60.18, a P/E/G ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping 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 firm 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. The company’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

Analyst Upgrades and Downgrades

GE has been the topic of several recent research reports. UBS Group raised their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Wells Fargo & Company lifted 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. Barclays increased their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Sanford C. Bernstein started coverage on General Electric in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price target for the company. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $191.14.

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.