Quilter Plc Decreases Position in General Electric (NYSE:GE)

Quilter Plc reduced its stake in General Electric (NYSE:GE) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,343 shares of the conglomerate’s stock after selling 544 shares during the period. Quilter Plc’s holdings in General Electric were worth $1,803,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Tennessee Valley Asset Management Partners acquired a new stake in General Electric during the 2nd quarter worth $280,000. Prime Capital Investment Advisors LLC increased its position in shares of General Electric by 15.5% during the second quarter. Prime Capital Investment Advisors LLC now owns 35,169 shares of the conglomerate’s stock worth $5,591,000 after purchasing an additional 4,728 shares in the last quarter. Plato Investment Management Ltd lifted its holdings in shares of General Electric by 19.5% in the 2nd quarter. Plato Investment Management Ltd now owns 29,799 shares of the conglomerate’s stock valued at $4,737,000 after purchasing an additional 4,858 shares during the last quarter. Stevard LLC acquired a new stake in shares of General Electric in the 2nd quarter valued at about $548,000. Finally, WINTON GROUP Ltd grew its stake in General Electric by 23.1% during the 2nd quarter. WINTON GROUP Ltd now owns 31,518 shares of the conglomerate’s stock worth $5,010,000 after buying an additional 5,909 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

GE stock opened at $178.28 on Monday. The firm has a 50 day moving average of $166.57 and a 200-day moving average of $171.10. The company has a market cap of $195.15 billion, a price-to-earnings ratio of 58.45, a PEG ratio of 1.65 and a beta of 1.18. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12-month low of $84.42 and a 12-month high of $179.32.

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. The company 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%. General Electric’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share. As a group, equities analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

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 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research reports. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. UBS Group increased 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. Finally, Wells Fargo & Company boosted their target price on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $191.14.

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.