Wellington Shields & Co. LLC Raises Stock Position in General Electric (NYSE:GE)

Wellington Shields & Co. LLC grew its stake in shares of General Electric (NYSE:GE) by 19.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,115 shares of the conglomerate’s stock after acquiring an additional 1,326 shares during the period. Wellington Shields & Co. LLC’s holdings in General Electric were worth $1,290,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Studio Investment Management LLC raised its stake in shares of General Electric by 97.5% during the 2nd 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 purchased a new stake in General Electric in the 2nd quarter valued at approximately $31,000. Richardson Financial Services Inc. acquired a new stake in General Electric during the 1st quarter valued at $34,000. Financial Connections Group Inc. purchased a new position in General Electric during the second quarter worth $32,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of General Electric in the first quarter worth $37,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 1.0 %

NYSE GE opened at $166.96 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. General Electric has a one year low of $84.42 and a one year high of $177.20. The company’s 50 day moving average price is $166.02 and its 200 day moving average price is $163.58. The firm has a market capitalization of $182.76 billion, a price-to-earnings ratio of 54.74, a PEG ratio of 1.60 and a beta of 1.18.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.67%. General Electric’s dividend payout ratio is presently 36.72%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GE. UBS Group lifted their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada raised their target price on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Sanford C. Bernstein began coverage on General Electric in a report on Tuesday. They issued an “outperform” rating and a $201.00 price target for the company. Finally, Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.14.

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.