General Electric (NYSE:GE) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC increased its stake in General Electric (NYSE:GE) by 20.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,517 shares of the conglomerate’s stock after purchasing an additional 11,082 shares during the quarter. NewEdge Advisors LLC’s holdings in General Electric were worth $10,415,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after acquiring an additional 550,996 shares in the last quarter. Capital International Investors raised its position in General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after acquiring an additional 5,309,543 shares in the last quarter. Newport Trust Company LLC bought a new stake in General Electric in the second quarter worth about $2,613,332,000. Capital World Investors raised its position in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after acquiring an additional 12,312,648 shares in the last quarter. Finally, Legal & General Group Plc raised its position in General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after acquiring an additional 459,201 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on GE shares. Barclays boosted their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Wells Fargo & Company boosted 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. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, UBS Group boosted their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average price target of $191.36.

General Electric Trading Up 1.7 %

Shares of NYSE GE opened at $188.51 on Tuesday. The stock has a market cap of $206.34 billion, a price-to-earnings ratio of 61.81, a PEG ratio of 1.87 and a beta of 1.18. The business has a 50 day simple moving average of $172.02 and a 200 day simple moving average of $169.63. General Electric has a 52 week low of $84.42 and a 52 week high of $190.88. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS. On average, research 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 declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.59%. General Electric’s payout ratio is 36.72%.

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.