Benjamin Edwards Inc. Acquires 87 Shares of General Electric (NYSE:GE)

Benjamin Edwards Inc. lifted its holdings in shares of General Electric (NYSE:GE) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,369 shares of the conglomerate’s stock after purchasing an additional 87 shares during the period. Benjamin Edwards Inc.’s holdings in General Electric were worth $218,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Aveo Capital Partners LLC purchased a new stake in General Electric in the 4th quarter worth about $203,000. Gryphon Financial Partners LLC increased its holdings in General Electric by 57.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock worth $1,526,000 after acquiring an additional 4,354 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in General Electric by 27.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 177,912 shares of the conglomerate’s stock worth $22,707,000 after acquiring an additional 38,784 shares during the last quarter. US Bancorp DE increased its holdings in General Electric by 4.6% in the 4th quarter. US Bancorp DE now owns 308,716 shares of the conglomerate’s stock worth $39,401,000 after acquiring an additional 13,681 shares during the last quarter. Finally, SageView Advisory Group LLC increased its holdings in General Electric by 38.5% in the 4th quarter. SageView Advisory Group LLC now owns 7,730 shares of the conglomerate’s stock worth $1,035,000 after acquiring an additional 2,147 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Performance

NYSE:GE opened at $187.43 on Friday. The business has a 50 day moving average of $168.69 and a 200 day moving average of $170.77. The company has a market capitalization of $205.16 billion, a price-to-earnings ratio of 61.45, a PEG ratio of 1.65 and a beta of 1.18. General Electric has a 1-year low of $84.42 and a 1-year high of $187.99. 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 released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. On average, sell-side analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a $0.28 dividend. 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 0.60%. General Electric’s payout ratio is 36.72%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GE shares. Wells Fargo & Company lifted their price objective on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. UBS Group lifted their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their target price on General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a report on Friday. Finally, Jefferies Financial Group lifted their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average target price of $191.36.

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.