NewEdge Advisors LLC Buys 11,082 Shares of General Electric (NYSE:GE)

NewEdge Advisors LLC boosted its stake in shares of General Electric (NYSE:GE) by 20.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,517 shares of the conglomerate’s stock after purchasing an additional 11,082 shares during the quarter. NewEdge Advisors LLC’s holdings in General Electric were worth $10,415,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GE. Studio Investment Management LLC lifted its holdings in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC acquired a new position in shares of General Electric during the second quarter worth approximately $31,000. Kapitalo Investimentos Ltda acquired a new position in shares of General Electric during the fourth quarter worth approximately $32,000. Financial Connections Group Inc. acquired a new position in shares of General Electric during the second quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of General Electric during the first quarter worth approximately $34,000. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of GE stock opened at $188.51 on Tuesday. The stock’s fifty day moving average is $172.02 and its 200-day moving average is $169.63. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The stock has a market capitalization of $206.34 billion, a PE ratio of 61.81, a PEG ratio of 1.87 and a beta of 1.18. General Electric has a 52 week low of $84.42 and a 52 week high of $190.88.

General Electric (NYSE:GE) last announced its 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 company had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. Equities research analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders 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 dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s payout ratio is presently 36.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GE. Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Wells Fargo & Company upped their target price on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Jefferies Financial Group upped their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Barclays upped their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada upped their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Two 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.36.

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.