Holderness Investments Co. Grows Stock Holdings in General Electric (NYSE:GE)

Holderness Investments Co. lifted its position in General Electric (NYSE:GE) by 3.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,954 shares of the conglomerate’s stock after purchasing an additional 67 shares during the quarter. Holderness Investments Co.’s holdings in General Electric were worth $311,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Aveo Capital Partners LLC bought a new stake in General Electric in the fourth quarter worth $203,000. Gryphon Financial Partners LLC lifted its position in General Electric by 57.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock valued at $1,526,000 after purchasing an additional 4,354 shares during the last quarter. SageView Advisory Group LLC grew its holdings 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 purchasing an additional 2,147 shares during the last quarter. Advisory Services Network LLC grew its holdings in shares of General Electric by 36.8% in the fourth quarter. Advisory Services Network LLC now owns 37,172 shares of the conglomerate’s stock worth $4,744,000 after purchasing an additional 9,994 shares during the last quarter. Finally, Johnson Financial Group Inc. increased its stake in shares of General Electric by 303.3% in the fourth quarter. Johnson Financial Group Inc. now owns 2,674 shares of the conglomerate’s stock worth $341,000 after buying an additional 2,011 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GE shares. 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 research report on Friday. Barclays upped their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group lifted their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company upped their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $191.36.

General Electric Stock Performance

GE opened at $187.43 on Monday. The company’s 50 day moving average is $168.69 and its 200 day moving average is $170.57. The company has a market cap of $205.16 billion, a price-to-earnings ratio of 61.45, a PEG ratio of 1.65 and a beta of 1.18. General Electric has a 12-month low of $84.42 and a 12-month high of $187.99. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the previous year, the company posted $0.68 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a $0.28 dividend. 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 (DPR) is presently 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.