Kimelman & Baird LLC Takes $2.03 Million Position in General Electric (NYSE:GE)

Kimelman & Baird LLC purchased a new position in shares of General Electric (NYSE:GE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,749 shares of the conglomerate’s stock, valued at approximately $2,027,000.

Other large investors have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp increased its stake in General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after buying an additional 57,372 shares during the period. Marietta Investment Partners LLC acquired a new stake in shares of General Electric during the second quarter worth approximately $1,569,000. Vanguard Group Inc. increased its stake in shares of General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after buying an additional 550,996 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after buying an additional 3,442 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in General Electric by 4.4% in the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after acquiring an additional 7,670 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Up 0.4 %

GE opened at $185.38 on Monday. 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 has a 12 month low of $84.42 and a 12 month high of $190.88. The stock’s 50 day moving average price is $171.51 and its 200 day moving average price is $169.77. The stock has a market cap of $202.92 billion, a P/E ratio of 60.78, a P/E/G ratio of 1.87 and a beta of 1.18.

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 business had revenue of $9.09 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the business earned $0.68 earnings per share. 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 company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GE. Wells Fargo & Company raised 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. UBS Group lifted their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Barclays boosted their price objective on 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 target on General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a report on Friday, September 20th. Finally, Jefferies Financial Group raised their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $191.36.

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.