3,910 Shares in General Electric (NYSE:GE) Bought by Wescott Financial Advisory Group LLC

Wescott Financial Advisory Group LLC purchased a new position in shares of General Electric (NYSE:GE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,910 shares of the conglomerate’s stock, valued at approximately $622,000.

Several other institutional investors have also bought and sold shares of the stock. Royal Capital Wealth Management LLC grew its holdings in General Electric by 115.4% during the second quarter. Royal Capital Wealth Management LLC now owns 3,270 shares of the conglomerate’s stock worth $520,000 after buying an additional 1,752 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in General Electric by 60.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 209,407 shares of the conglomerate’s stock valued at $33,289,000 after purchasing an additional 79,024 shares during the period. Wulff Hansen & CO. grew its stake in General Electric by 18.2% in the 2nd quarter. Wulff Hansen & CO. now owns 10,153 shares of the conglomerate’s stock valued at $1,614,000 after purchasing an additional 1,565 shares during the period. Marietta Investment Partners LLC purchased a new position in shares of General Electric during the 2nd quarter valued at $1,569,000. Finally, Xponance Inc. lifted its position in shares of General Electric by 4.4% during the 2nd quarter. Xponance Inc. now owns 168,182 shares of the conglomerate’s stock valued at $26,736,000 after buying an additional 7,085 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of General Electric stock opened at $189.79 on Wednesday. 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 market capitalization of $205.79 billion, a PE ratio of 62.23, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. The business’s 50-day moving average price is $169.81 and its 200-day moving average price is $170.28. General Electric has a 12 month low of $84.42 and a 12 month high of $189.80.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate 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 return on equity of 16.07% and a net margin of 7.66%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.68 EPS. Sell-side analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.59%. General Electric’s payout ratio is 36.72%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays upped their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a research report on Friday, September 20th. UBS Group increased their price objective on General Electric from $201.00 to $209.00 and gave the stock 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 stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group increased their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $191.36.

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.