Bradley Foster & Sargent Inc. CT Increases Stock Position in General Electric (NYSE:GE)

Bradley Foster & Sargent Inc. CT increased its stake in shares of General Electric (NYSE:GE) by 174.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,029 shares of the conglomerate’s stock after purchasing an additional 31,786 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in General Electric were worth $7,953,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Vanguard Group Inc. lifted its holdings in shares of General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after buying an additional 550,996 shares during the period. Capital International Investors lifted its holdings in General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the period. Capital World Investors boosted its position in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of General Electric by 221.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after purchasing an additional 4,907,530 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of General Electric by 6.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate’s stock valued at $849,385,000 after purchasing an additional 426,794 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.6 %

Shares of GE stock opened at $180.32 on Wednesday. The stock has a market cap of $197.38 billion, a P/E ratio of 59.12, a PEG ratio of 1.65 and a beta of 1.18. The company’s fifty day simple moving average is $167.28 and its two-hundred day simple moving average is $170.87. 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 52 week low of $84.42 and a 52 week high of $182.43.

General Electric (NYSE:GE) last released its quarterly 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 business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. Analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. UBS Group boosted their target price on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Sanford C. Bernstein initiated coverage on General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price on the stock. Wells Fargo & Company upped their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Barclays lifted their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $191.14.

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.