Founders Financial Alliance LLC Buys 199 Shares of General Electric (NYSE:GE)

Founders Financial Alliance LLC boosted its stake in shares of General Electric (NYSE:GE) by 5.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,694 shares of the conglomerate’s stock after acquiring an additional 199 shares during the period. Founders Financial Alliance LLC’s holdings in General Electric were worth $587,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their target price on General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Royal Bank of Canada increased their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Sanford C. Bernstein started coverage on General Electric in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price target for the company. Finally, Wells Fargo & Company increased their price target on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $191.36.

General Electric Trading Up 1.7 %

Shares of GE stock opened at $188.51 on Tuesday. General Electric has a 1 year low of $84.42 and a 1 year high of $190.88. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $172.02 and its two-hundred day simple moving average is $169.63. The company has a market cap of $206.34 billion, a PE ratio of 61.81, a price-to-earnings-growth 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 (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 business had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. 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 declared 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. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.59%. 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.