Denver PWM LLC Buys New Stake in General Electric (NYSE:GE)

Denver PWM LLC purchased a new position in shares of General Electric (NYSE:GE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,165 shares of the conglomerate’s stock, valued at approximately $185,000.

Several other institutional investors and hedge funds also recently modified their holdings of GE. MFA Wealth Advisors LLC acquired a new stake in General Electric during the second quarter valued at approximately $31,000. Kapitalo Investimentos Ltda acquired a new stake in shares of General Electric during the fourth quarter worth approximately $32,000. Financial Connections Group Inc. purchased a new position in shares of General Electric during the 2nd quarter valued at $32,000. Richardson Financial Services Inc. acquired a new position in General Electric in the 1st quarter worth about $34,000. Finally, Macroview Investment Management LLC raised its position in General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group increased their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Wells Fargo & Company increased their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Jefferies Financial Group boosted their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. JPMorgan Chase & Co. upped their price objective on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Finally, Barclays boosted their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.38.

General Electric Trading Down 1.5 %

Shares of GE stock opened at $163.91 on Friday. 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 stock has a market cap of $179.42 billion, a P/E ratio of 53.74, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18. The stock has a 50 day simple moving average of $165.74 and a 200 day simple moving average of $163.10. General Electric has a 1 year low of $84.42 and a 1 year high of $177.20.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the prior year, the company earned $0.68 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is presently 36.72%.

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.