Seven Eight Capital LP Buys New Position in General Electric (NYSE:GE)

Seven Eight Capital LP acquired a new position in General Electric (NYSE:GE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,524 shares of the conglomerate’s stock, valued at approximately $560,000.

Several other institutional investors have also recently made changes to their positions in GE. Aveo Capital Partners LLC purchased a new stake in General Electric in the fourth quarter worth about $203,000. Gryphon Financial Partners LLC raised its stake in General Electric by 57.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock valued at $1,526,000 after buying an additional 4,354 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in General Electric by 27.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 177,912 shares of the conglomerate’s stock valued at $22,707,000 after buying an additional 38,784 shares during the last quarter. US Bancorp DE grew its stake in shares of General Electric by 4.6% in the fourth quarter. US Bancorp DE now owns 308,716 shares of the conglomerate’s stock worth $39,401,000 after acquiring an additional 13,681 shares during the last quarter. Finally, SageView Advisory Group LLC grew its stake in shares of General Electric by 38.5% in the fourth quarter. SageView Advisory Group LLC now owns 7,730 shares of the conglomerate’s stock worth $1,035,000 after acquiring an additional 2,147 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Jefferies Financial Group boosted their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Barclays raised their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a report on Friday. Finally, UBS Group raised their target price on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.36.

General Electric Trading Up 0.7 %

General Electric stock opened at $187.43 on Friday. General Electric has a 12-month low of $84.42 and a 12-month high of $187.99. The firm has a market capitalization of $205.16 billion, a price-to-earnings ratio of 61.45, a P/E/G 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 $170.77. 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 data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.68 EPS. As a group, research analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

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