General Electric (NYSE:GE) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in General Electric (NYSE:GE) by 25.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 16,999 shares of the conglomerate’s stock after purchasing an additional 3,442 shares during the period. GAMMA Investing LLC’s holdings in General Electric were worth $2,702,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GE. Trust Co of the South increased its stake in shares of General Electric by 1.2% during the 2nd quarter. Trust Co of the South now owns 5,909 shares of the conglomerate’s stock valued at $939,000 after acquiring an additional 70 shares during the last quarter. Neville Rodie & Shaw Inc. increased its stake in shares of General Electric by 0.6% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 83,412 shares of the conglomerate’s stock valued at $13,260,000 after acquiring an additional 465 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of General Electric by 122.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,988 shares of the conglomerate’s stock valued at $807,000 after acquiring an additional 2,747 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of General Electric by 37.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 463,645 shares of the conglomerate’s stock valued at $83,388,000 after acquiring an additional 126,523 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in shares of General Electric during the 1st quarter valued at about $131,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the sale, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Performance

Shares of GE stock traded down $9.47 on Friday, hitting $160.28. 8,210,692 shares of the stock traded hands, compared to its average volume of 6,157,757. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The company has a market capitalization of $175.44 billion, a PE ratio of 52.55, a PEG ratio of 1.70 and a beta of 1.21. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20. The company’s fifty day moving average is $162.83 and its 200 day moving average is $158.04.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) 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 analyst estimates 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 was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 EPS. On average, equities research analysts predict that General Electric will post 4.15 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio is currently 36.72%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GE shares. Jefferies Financial Group boosted their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Citigroup boosted their target price on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Barclays boosted their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Argus upped their price target on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.71.

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.