EverSource Wealth Advisors LLC Purchases 371 Shares of General Electric (NYSE:GE)

EverSource Wealth Advisors LLC boosted its position in shares of General Electric (NYSE:GE) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,359 shares of the conglomerate’s stock after acquiring an additional 371 shares during the period. EverSource Wealth Advisors LLC’s holdings in General Electric were worth $912,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Studio Investment Management LLC boosted its holdings 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 acquiring an additional 78 shares in the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of General Electric in the 2nd quarter valued at approximately $31,000. Richardson Financial Services Inc. acquired a new stake in General Electric in the 1st quarter worth approximately $34,000. Financial Connections Group Inc. purchased a new stake in General Electric during the 2nd quarter worth approximately $32,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in General Electric during the 1st quarter valued at approximately $37,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

GE opened at $188.71 on Tuesday. The firm has a fifty day moving average price of $169.27 and a 200 day moving average price of $170.43. General Electric has a 1 year low of $84.42 and a 1 year high of $189.78. The stock has a market cap of $206.56 billion, a P/E ratio of 61.87, a P/E/G 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 issued its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.59%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is currently 36.72%.

Wall Street Analysts Forecast Growth

GE has been the subject of several research reports. Sanford C. Bernstein began coverage on shares of General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective for the company. Barclays raised their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company boosted their price target on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada increased their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a report on Friday. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $191.36.

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.