Moloney Securities Asset Management LLC Increases Stock Position in General Electric (NYSE:GE)

Moloney Securities Asset Management LLC raised its position in General Electric (NYSE:GE) by 58.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,164 shares of the conglomerate’s stock after acquiring an additional 800 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in General Electric were worth $344,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. USA Financial Formulas grew its position in shares of General Electric by 24,042.9% in the 4th quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock worth $1,294,000 after buying an additional 10,098 shares during the last quarter. Rathbones Group PLC increased its position in General Electric by 2.7% during the 4th quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock valued at $28,821,000 after purchasing an additional 5,997 shares during the period. Dimensional Fund Advisors LP increased its position in General Electric by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate’s stock valued at $534,123,000 after purchasing an additional 318,245 shares during the period. Vanguard Group Inc. raised its holdings in General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after purchasing an additional 550,996 shares in the last quarter. Finally, Sheets Smith Wealth Management purchased a new stake in shares of General Electric in the 4th quarter worth about $3,959,000. 74.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GE shares. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada increased their target price on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Barclays raised their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, JPMorgan Chase & Co. raised their price objective on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.38.

General Electric Stock Performance

Shares of GE stock opened at $174.62 on Friday. The company has a market capitalization of $191.14 billion, a price-to-earnings ratio of 57.25, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21. 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 has a one year low of $84.42 and a one year high of $177.20. The company’s 50-day moving average is $165.18 and its 200 day moving average is $162.52.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating 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 firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the prior 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. Sell-side analysts expect that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s payout ratio 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.