Brighton Jones LLC Acquires 106 Shares of General Electric (NYSE:GE)

Brighton Jones LLC grew its holdings in General Electric (NYSE:GE) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,020 shares of the conglomerate’s stock after acquiring an additional 106 shares during the period. Brighton Jones LLC’s holdings in General Electric were worth $1,275,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Studio Investment Management LLC lifted its stake in shares of 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 buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric in the second quarter worth $31,000. Kapitalo Investimentos Ltda acquired a new stake in shares of General Electric in the fourth quarter worth $32,000. Financial Connections Group Inc. acquired a new stake in shares of General Electric in the second quarter worth $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of General Electric in the first quarter worth $34,000. 74.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. 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 upped their target price on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Wells Fargo & Company upped their target price 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. Jefferies Financial Group upped their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a research note on Friday. Two 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 an average target price of $191.36.

General Electric Stock Performance

Shares of NYSE:GE opened at $187.39 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The business’s fifty day moving average price is $168.69 and its two-hundred day moving average price is $170.96. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $187.99. The stock has a market capitalization of $205.12 billion, a price-to-earnings ratio of 61.44, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share 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 business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

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.