Ritholtz Wealth Management Has $3.21 Million Position in General Electric (NYSE:GE)

Ritholtz Wealth Management raised its stake in General Electric (NYSE:GE) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,173 shares of the conglomerate’s stock after buying an additional 472 shares during the quarter. Ritholtz Wealth Management’s holdings in General Electric were worth $3,207,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. USA Financial Formulas increased its holdings in General Electric by 24,042.9% in the fourth quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock worth $1,294,000 after buying an additional 10,098 shares during the last quarter. Rathbones Group PLC raised its holdings in shares of General Electric by 2.7% during the 4th quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock valued at $28,821,000 after purchasing an additional 5,997 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of General Electric by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate’s stock valued at $534,123,000 after purchasing an additional 318,245 shares during the last quarter. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 550,996 shares in the last quarter. Finally, Sheets Smith Wealth Management acquired a new position in General Electric during the fourth quarter worth $3,959,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 0.6 %

GE stock opened at $174.62 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The company has a market cap of $189.34 billion, a PE ratio of 57.25, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21. The business has a 50-day simple moving average of $165.18 and a 200 day simple moving average of $162.78. General Electric has a 52 week low of $84.42 and a 52 week high of $177.20.

General Electric (NYSE:GE) last posted its earnings results 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 net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio is 36.72%.

Analyst Ratings Changes

Several brokerages have commented on GE. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. boosted their target price on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. UBS Group increased their price target on shares of 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 boosted 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. Finally, Royal Bank of Canada increased their target price on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.38.

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.