Birch Hill Investment Advisors LLC Grows Stock Holdings in General Electric (NYSE:GE)

Birch Hill Investment Advisors LLC raised its stake in General Electric (NYSE:GE) by 10.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,843 shares of the conglomerate’s stock after buying an additional 554 shares during the period. Birch Hill Investment Advisors LLC’s holdings in General Electric were worth $929,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Penobscot Investment Management Company Inc. boosted its position in shares of General Electric by 15.3% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 3,106 shares of the conglomerate’s stock worth $396,000 after buying an additional 412 shares in the last quarter. Pekin Hardy Strauss Inc. purchased a new stake in shares of General Electric in the fourth quarter valued at about $218,000. Mission Wealth Management LP grew its position in shares of General Electric by 5.9% in the fourth quarter. Mission Wealth Management LP now owns 8,314 shares of the conglomerate’s stock valued at $1,061,000 after purchasing an additional 463 shares during the last quarter. MONECO Advisors LLC increased its stake in shares of General Electric by 15.0% during the 4th quarter. MONECO Advisors LLC now owns 2,125 shares of the conglomerate’s stock worth $271,000 after purchasing an additional 277 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of General Electric during the 4th quarter worth approximately $47,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GE shares. UBS Group increased their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. 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 research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Royal Bank of Canada upped their target price on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average price target of $190.38.

General Electric Stock Performance

Shares of GE stock opened at $174.62 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The firm has a market capitalization of $189.34 billion, a price-to-earnings ratio of 57.25, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21. General Electric has a one year low of $84.42 and a one year high of $177.20. The company has a 50 day moving average price of $165.18 and a 200 day moving average price of $162.52.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping 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 the consensus estimate of $8.44 billion. During the same period in the prior year, the firm posted $0.68 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio is currently 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.