Northwestern Mutual Wealth Management Co. Acquires 3,086 Shares of General Electric (NYSE:GE)

Northwestern Mutual Wealth Management Co. boosted its stake in General Electric (NYSE:GE) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,953 shares of the conglomerate’s stock after purchasing an additional 3,086 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in General Electric were worth $10,644,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Macroview Investment Management LLC boosted its stake in shares of General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. Allegheny Financial Group LTD increased its stake in shares of General Electric by 1.4% in the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after acquiring an additional 61 shares in the last quarter. New England Research & Management Inc. boosted its position in shares of General Electric by 2.2% during the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after purchasing an additional 63 shares in the last quarter. Certified Advisory Corp increased its holdings in shares of General Electric by 1.0% during the second quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock valued at $1,045,000 after acquiring an additional 63 shares in the last quarter. Finally, Argent Trust Co raised its holdings in General Electric by 0.6% during the second quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock worth $1,707,000 after buying an additional 64 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

General Electric stock opened at $186.30 on Wednesday. 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 company’s 50-day moving average is $172.31 and its 200 day moving average is $169.45. General Electric has a 1-year low of $84.42 and a 1-year high of $190.88. The firm has a market capitalization of $203.93 billion, a P/E ratio of 61.08, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18.

General Electric (NYSE:GE) last issued its earnings results 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. 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 during the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the company posted $0.68 EPS. General Electric’s revenue was up 3.9% on a year-over-year basis. Research analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Analysts Set New Price Targets

GE has been the topic of a number of recent analyst reports. UBS Group raised their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report 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. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Royal Bank of Canada increased their price objective on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Barclays lifted their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.