Ascent Group LLC Has $2.70 Million Stock Holdings in General Electric (NYSE:GE)

Ascent Group LLC boosted its holdings in General Electric (NYSE:GE) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,005 shares of the conglomerate’s stock after buying an additional 309 shares during the quarter. Ascent Group LLC’s holdings in General Electric were worth $2,703,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Studio Investment Management LLC lifted its stake in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the period. MFA Wealth Advisors LLC bought a new stake in shares of General Electric in the 2nd quarter valued at $31,000. Kapitalo Investimentos Ltda acquired a new stake in shares of General Electric during the fourth quarter worth $32,000. Financial Connections Group Inc. bought a new position in General Electric during the second quarter worth $32,000. Finally, Richardson Financial Services Inc. acquired a new position in General Electric in the first quarter valued at $34,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

NYSE GE opened at $185.38 on Monday. The company has a fifty day moving average price of $171.51 and a 200-day moving average price of $169.77. The firm has a market cap of $202.92 billion, a price-to-earnings ratio of 60.78, a PEG ratio of 1.87 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. General Electric has a 1 year low of $84.42 and a 1 year high of $190.88.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (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 business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the prior year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities research analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GE shares. Barclays lifted their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group increased their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Wells Fargo & Company boosted their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Royal Bank of Canada lifted their price target 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. Finally, UBS Group upped their price objective 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. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus price target of $191.36.

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.