General Electric (NYSE:GE) Shares Purchased by LS Investment Advisors LLC

LS Investment Advisors LLC lifted its stake in shares of General Electric (NYSE:GE) by 20.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,823 shares of the conglomerate’s stock after acquiring an additional 312 shares during the period. LS Investment Advisors LLC’s holdings in General Electric were worth $290,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Atomi Financial Group Inc. lifted its stake in shares of General Electric by 2.4% in the 2nd quarter. Atomi Financial Group Inc. now owns 27,869 shares of the conglomerate’s stock valued at $4,430,000 after purchasing an additional 662 shares in the last quarter. AlphaStar Capital Management LLC raised its holdings in shares of General Electric by 54.3% during the 2nd quarter. AlphaStar Capital Management LLC now owns 2,926 shares of the conglomerate’s stock valued at $465,000 after buying an additional 1,030 shares during the period. Signature Estate & Investment Advisors LLC purchased a new position in shares of General Electric in the second quarter valued at $794,000. State of Michigan Retirement System boosted its position in General Electric by 0.5% in the 2nd quarter. State of Michigan Retirement System now owns 299,761 shares of the conglomerate’s stock valued at $47,653,000 after buying an additional 1,600 shares during the last quarter. Finally, St. Johns Investment Management Company LLC grew its stake in General Electric by 62.0% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 810 shares of the conglomerate’s stock valued at $129,000 after purchasing an additional 310 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

NYSE GE traded down $0.23 during trading hours on Tuesday, hitting $170.99. The company had a trading volume of 3,205,616 shares, compared to its average volume of 6,794,093. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $177.20. The business has a fifty day simple moving average of $164.55 and a 200-day simple moving average of $161.91. The firm has a market cap of $187.17 billion, a P/E ratio of 56.06, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21.

General Electric (NYSE:GE) last posted 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 firm had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. Equities analysts predict that General Electric will post 4.15 EPS for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Jefferies Financial Group upped their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. lifted their price target on General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Wells Fargo & Company upped their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft increased 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. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $190.38.

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.