Ieq Capital LLC Purchases 1,868 Shares of General Electric (NYSE:GE)

Ieq Capital LLC raised its holdings in shares of General Electric (NYSE:GE) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,347 shares of the conglomerate’s stock after purchasing an additional 1,868 shares during the period. Ieq Capital LLC’s holdings in General Electric were worth $6,732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Studio Investment Management LLC boosted its holdings in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of General Electric in the 2nd quarter valued at $31,000. Richardson Financial Services Inc. acquired a new stake in General Electric during the 1st quarter worth $34,000. Financial Connections Group Inc. acquired a new stake in General Electric during the 2nd quarter worth $32,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in General Electric during the first quarter worth about $37,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE opened at $187.39 on Friday. The company has a market cap of $205.12 billion, a PE ratio of 61.44, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The firm has a 50-day moving average of $168.69 and a 200-day moving average of $170.96. General Electric has a one year low of $84.42 and a one year high of $187.99. 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 posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping analysts’ consensus estimates 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%. General Electric’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.68 earnings per share. As a group, equities analysts forecast that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The business 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. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. General Electric’s dividend payout ratio is currently 36.72%.

Analyst Ratings Changes

A number of analysts recently issued reports on GE shares. Deutsche Bank Aktiengesellschaft increased their target price on General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada lifted their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Company upped their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, UBS Group raised their price target on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average 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.