Marietta Investment Partners LLC Takes $1.57 Million Position in General Electric (NYSE:GE)

Marietta Investment Partners LLC purchased a new stake in shares of General Electric (NYSE:GE) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 9,872 shares of the conglomerate’s stock, valued at approximately $1,569,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Xponance Inc. lifted its holdings in shares of General Electric by 4.4% during the 2nd quarter. Xponance Inc. now owns 168,182 shares of the conglomerate’s stock valued at $26,736,000 after buying an additional 7,085 shares during the period. Bank of Montreal Can raised its holdings in General Electric by 1.1% in the 2nd quarter. Bank of Montreal Can now owns 1,158,380 shares of the conglomerate’s stock worth $189,685,000 after purchasing an additional 13,042 shares during the period. Evergreen Capital Management LLC raised its holdings in General Electric by 2.0% in the 2nd quarter. Evergreen Capital Management LLC now owns 6,636 shares of the conglomerate’s stock worth $1,055,000 after purchasing an additional 129 shares during the period. Public Sector Pension Investment Board raised its holdings in General Electric by 74.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 42,186 shares of the conglomerate’s stock worth $6,706,000 after purchasing an additional 18,064 shares during the period. Finally, Beck Capital Management LLC bought a new position in General Electric in the 2nd quarter worth $2,948,000. 74.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GE has been the topic of a number of recent research reports. Barclays raised their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. UBS Group raised their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft increased their price target on General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada increased their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note 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. Based on data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $191.36.

General Electric Trading Up 0.7 %

Shares of General Electric stock opened at $187.43 on Monday. The firm 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. The business has a 50-day moving average price of $168.69 and a 200-day moving average price of $170.57. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a twelve month low of $84.42 and a twelve month high of $187.99.

General Electric (NYSE:GE) last issued its quarterly earnings data 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. The firm had revenue of $9.09 billion during 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 business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 earnings per share. Equities research analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors 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 annualized dividend and a yield of 0.60%. 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.