SRS Capital Advisors Inc. Has $770,000 Holdings in General Electric (NYSE:GE)

SRS Capital Advisors Inc. grew its position in General Electric (NYSE:GE) by 56.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,842 shares of the conglomerate’s stock after acquiring an additional 1,753 shares during the period. SRS Capital Advisors Inc.’s holdings in General Electric were worth $770,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Macroview Investment Management LLC lifted its stake in General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 58 shares during the last quarter. Allegheny Financial Group LTD lifted its stake in 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 purchasing an additional 61 shares during the last quarter. New England Research & Management Inc. grew its holdings in General Electric by 2.2% during the second 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 during the period. Choate Investment Advisors increased its position in General Electric by 0.4% during the first quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock worth $2,808,000 after buying an additional 65 shares during the last quarter. Finally, First National Trust Co increased its position in General Electric by 1.7% during the second quarter. First National Trust Co now owns 3,912 shares of the conglomerate’s stock worth $622,000 after buying an additional 66 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Trading Down 1.6 %

GE opened at $161.23 on Friday. The company has a market cap of $176.48 billion, a P/E ratio of 52.86, a PEG ratio of 1.73 and a beta of 1.18. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company’s 50 day moving average is $165.78 and its 200-day moving average is $163.28. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20.

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. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $0.68 earnings per share. Equities research analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is 36.72%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GE. Jefferies Financial Group raised their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada increased their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their target price 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, Deutsche Bank Aktiengesellschaft increased their price target on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.