Bridges Investment Management Inc. Buys 1,579 Shares of General Electric (NYSE:GE)

Bridges Investment Management Inc. lifted its stake in shares of General Electric (NYSE:GE) by 20.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,422 shares of the conglomerate’s stock after acquiring an additional 1,579 shares during the period. Bridges Investment Management Inc.’s holdings in General Electric were worth $1,498,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after acquiring an additional 550,996 shares in the last quarter. Capital International Investors boosted its holdings in General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Capital World Investors boosted its holdings in General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in General Electric by 6.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate’s stock worth $849,385,000 after buying an additional 426,794 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Up 0.7 %

General Electric stock opened at $187.39 on Friday. The company’s 50-day moving average price is $168.69 and its two-hundred day moving average price is $170.96. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The stock has a market cap of $205.12 billion, a P/E ratio of 61.44, a P/E/G ratio of 1.65 and a beta of 1.18. General Electric has a twelve month low of $84.42 and a twelve month high of $187.99.

General Electric (NYSE:GE) last announced 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 for the quarter, compared to analyst estimates 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 last year, the company earned $0.68 earnings per share. As a group, analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.60%. General Electric’s payout ratio is presently 36.72%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GE shares. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein initiated coverage on General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada upped their price target on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Two investment 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, General Electric has a consensus rating of “Moderate Buy” and a consensus price target 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.