Edgestream Partners L.P. Decreases Stock Holdings in General Electric (NYSE:GE)

Edgestream Partners L.P. lowered its stake in General Electric (NYSE:GE) by 50.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,389 shares of the conglomerate’s stock after selling 14,516 shares during the quarter. Edgestream Partners L.P.’s holdings in General Electric were worth $2,287,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GE. Pekin Hardy Strauss Inc. grew its holdings in shares of General Electric by 16.7% in the second quarter. Pekin Hardy Strauss Inc. now owns 5,097 shares of the conglomerate’s stock worth $810,000 after acquiring an additional 730 shares during the period. Terril Brothers Inc. grew its stake in shares of General Electric by 12.7% during the 2nd quarter. Terril Brothers Inc. now owns 1,369 shares of the conglomerate’s stock valued at $218,000 after purchasing an additional 154 shares during the period. Wulff Hansen & CO. lifted its stake in shares of General Electric by 18,693.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock worth $256,581,000 after purchasing an additional 1,605,434 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in shares of General Electric by 55.2% in the second quarter. Citizens Financial Group Inc. RI now owns 7,172 shares of the conglomerate’s stock worth $1,140,000 after buying an additional 2,550 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. grew its position in General Electric by 31.6% during the second quarter. Total Clarity Wealth Management Inc. now owns 1,700 shares of the conglomerate’s stock valued at $270,000 after buying an additional 408 shares during the period. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the topic of several recent research reports. Wells Fargo & Company increased their price target on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Jefferies Financial Group lifted their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. UBS Group lifted their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Finally, Royal Bank of Canada increased their target price on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.14.

General Electric Price Performance

GE stock opened at $183.54 on Thursday. The company has a market capitalization of $200.90 billion, a PE ratio of 60.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The company’s fifty day moving average price is $167.63 and its 200-day moving average price is $170.96. General Electric has a one year low of $84.42 and a one year high of $185.77. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 EPS. On average, equities analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is presently 36.72%.

General Electric 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.