General Electric (NYSE:GE) Shares Acquired by ProVise Management Group LLC

ProVise Management Group LLC increased its position in General Electric (NYSE:GE) by 18.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,787 shares of the conglomerate’s stock after acquiring an additional 442 shares during the period. ProVise Management Group LLC’s holdings in General Electric were worth $443,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Studio Investment Management LLC increased its stake in General Electric by 97.5% during the 2nd 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 period. MFA Wealth Advisors LLC acquired a new position in General Electric during the 2nd quarter valued at about $31,000. Kapitalo Investimentos Ltda acquired a new position in General Electric during the 4th quarter valued at about $32,000. Financial Connections Group Inc. acquired a new position in General Electric during the 2nd quarter valued at about $32,000. Finally, Richardson Financial Services Inc. acquired a new position in General Electric during the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE opened at $187.39 on Friday. General Electric has a one year low of $84.42 and a one year high of $187.99. The company has a 50-day moving average of $168.69 and a two-hundred day moving average of $170.96. The stock has a market cap of $205.12 billion, a price-to-earnings ratio of 61.44, a PEG ratio of 1.65 and a beta of 1.18. 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 announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping 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 period last year, the company posted $0.68 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The business also recently declared 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. This represents a $1.12 annualized dividend and a dividend 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%.

Analysts Set New Price Targets

Several equities analysts have commented on GE shares. Royal Bank of Canada raised their target price on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. UBS Group raised their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a research report on Friday. Finally, Sanford C. Bernstein assumed coverage on shares of General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective for the company. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.