Mittelman Wealth Management Has $455,000 Stock Holdings in General Electric (NYSE:GE)

Mittelman Wealth Management raised its position in General Electric (NYSE:GE) by 109.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,861 shares of the conglomerate’s stock after buying an additional 1,494 shares during the period. Mittelman Wealth Management’s holdings in General Electric were worth $455,000 as of its most recent filing with the SEC.

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

General Electric Price Performance

NYSE GE opened at $183.54 on Thursday. 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 market cap of $200.90 billion, a price-to-earnings ratio of 60.18, a PEG ratio of 1.65 and a beta of 1.18. The business has a 50 day simple moving average of $167.63 and a 200 day simple moving average of $170.96. General Electric has a 52-week low of $84.42 and a 52-week high of $185.77.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. 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 prior year, the company earned $0.68 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company 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 $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is 36.72%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GE. Wells Fargo & Company raised their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group upped their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft increased their target price on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $191.14.

General Electric Company 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.