Dorsey & Whitney Trust CO LLC Increases Stock Position in General Electric (NYSE:GE)

Dorsey & Whitney Trust CO LLC lifted its holdings in General Electric (NYSE:GE) by 2.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,880 shares of the conglomerate’s stock after purchasing an additional 103 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in General Electric were worth $617,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. MFA Wealth Advisors LLC bought a new position in shares of General Electric during the 2nd quarter worth approximately $31,000. Kapitalo Investimentos Ltda bought a new position in shares of General Electric during the 4th quarter worth approximately $32,000. Financial Connections Group Inc. bought a new position in shares of General Electric during the 2nd quarter worth approximately $32,000. Richardson Financial Services Inc. bought a new position in shares of General Electric during the 1st quarter worth approximately $34,000. Finally, Macroview Investment Management LLC raised its stake in shares of General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company increased their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Sanford C. Bernstein started coverage on shares of General Electric in a report on Tuesday. They set an “outperform” rating and a $201.00 price objective on the stock. Finally, UBS Group increased their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Two equities research 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.com, General Electric presently has an average rating of “Moderate Buy” and an average price target of $191.14.

General Electric Price Performance

General Electric stock opened at $166.28 on Thursday. General Electric has a 12-month low of $84.42 and a 12-month high of $177.20. The stock has a market cap of $182.01 billion, a P/E ratio of 54.52, a PEG ratio of 1.60 and a beta of 1.18. The company has a 50-day moving average price of $166.08 and a 200 day moving average price of $171.54. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share 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 business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same period last year, the business earned $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 anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio is presently 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.