Argent Trust Co Acquires 64 Shares of General Electric (NYSE:GE)

Argent Trust Co lifted its stake in shares of General Electric (NYSE:GE) by 0.6% during the second quarter, HoldingsChannel.com reports. The fund owned 10,737 shares of the conglomerate’s stock after buying an additional 64 shares during the quarter. Argent Trust Co’s holdings in General Electric were worth $1,707,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Aveo Capital Partners LLC bought a new stake in shares of General Electric in the fourth quarter valued at about $203,000. Gryphon Financial Partners LLC raised its holdings in shares of General Electric by 57.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock valued at $1,526,000 after purchasing an additional 4,354 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of General Electric in the 4th quarter worth approximately $477,000. Corient Private Wealth LLC lifted its position in shares of General Electric by 8.0% in the 4th quarter. Corient Private Wealth LLC now owns 229,376 shares of the conglomerate’s stock worth $29,275,000 after purchasing an additional 16,952 shares during the period. Finally, CreativeOne Wealth LLC boosted its stake in shares of General Electric by 13.8% during the fourth quarter. CreativeOne Wealth LLC now owns 3,975 shares of the conglomerate’s stock valued at $507,000 after purchasing an additional 482 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Up 1.8 %

NYSE:GE opened at $183.54 on Thursday. 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 firm has a fifty day simple moving average of $167.63 and a 200-day simple moving average of $170.96. General Electric has a 12 month low of $84.42 and a 12 month high of $185.77. The company has a market capitalization of $200.90 billion, a P/E ratio of 60.18, a PEG ratio of 1.65 and a beta of 1.18.

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

General Electric Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently commented on GE shares. Deutsche Bank Aktiengesellschaft upped their target price on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Sanford C. Bernstein assumed coverage on General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective for the company. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. 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 research report on Monday, July 1st. Finally, Jefferies Financial Group lifted their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.14.

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.