Wulff Hansen & CO. Grows Stake in General Electric (NYSE:GE)

Wulff Hansen & CO. lifted its position in shares of General Electric (NYSE:GE) by 18.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,153 shares of the conglomerate’s stock after buying an additional 1,565 shares during the quarter. General Electric makes up 1.5% of Wulff Hansen & CO.’s holdings, making the stock its 18th largest holding. Wulff Hansen & CO.’s holdings in General Electric were worth $1,614,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Newport Trust Company LLC purchased a new position in General Electric during the 2nd quarter valued at about $2,613,332,000. Capital World Investors increased 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 valued at $2,237,930,000 after buying an additional 12,312,648 shares during the period. Capital International Investors raised its stake in General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after buying an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after buying an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new stake in General Electric during the 2nd quarter valued at $580,200,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GE. Royal Bank of Canada boosted their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Sanford C. Bernstein began coverage on shares of General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price target on the stock. UBS Group boosted their price objective 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. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company increased their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $191.36.

General Electric Trading Up 0.7 %

Shares of NYSE:GE opened at $188.71 on Tuesday. 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 52-week low of $84.42 and a 52-week high of $189.78. The stock has a market cap of $206.56 billion, a price-to-earnings ratio of 61.87, a PEG ratio of 1.65 and a beta of 1.18. The business has a 50-day moving average price of $169.27 and a 200-day moving average price of $170.43.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. Equities analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The firm also recently declared 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. This represents a $1.12 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

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.