Peregrine Asset Advisers Inc. Grows Stock Position in General Electric (NYSE:GE)

Peregrine Asset Advisers Inc. grew its position in shares of General Electric (NYSE:GE) by 4.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,178 shares of the conglomerate’s stock after purchasing an additional 739 shares during the period. General Electric makes up about 1.1% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 28th largest position. Peregrine Asset Advisers Inc.’s holdings in General Electric were worth $2,731,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Macroview Investment Management LLC increased its stake in shares of General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after buying an additional 58 shares during the last quarter. Allegheny Financial Group LTD lifted its position in shares of General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after purchasing an additional 61 shares during the last quarter. New England Research & Management Inc. increased its holdings in General Electric by 2.2% in the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after buying an additional 63 shares during the last quarter. Choate Investment Advisors raised its stake in General Electric by 0.4% during the first quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock valued at $2,808,000 after buying an additional 65 shares in the last quarter. Finally, First National Trust Co lifted its holdings in General Electric by 1.7% during the 2nd quarter. First National Trust Co now owns 3,912 shares of the conglomerate’s stock worth $622,000 after buying an additional 66 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on GE shares. Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Jefferies Financial Group increased their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Sanford C. Bernstein initiated coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target for the company. UBS Group increased their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Finally, Royal Bank of Canada boosted their target price on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average price target of $191.14.

General Electric Price Performance

NYSE GE opened at $181.46 on Tuesday. The stock has a market capitalization of $198.63 billion, a P/E ratio of 59.50, a P/E/G ratio of 1.65 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The business’s fifty day moving average is $166.93 and its two-hundred day moving average is $171.00. General Electric has a 1 year low of $84.42 and a 1 year high of $181.52.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the previous year, the company earned $0.68 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, research analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

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.