Pekin Hardy Strauss Inc. Increases Stock Position in General Electric (NYSE:GE)

Pekin Hardy Strauss Inc. increased its holdings in General Electric (NYSE:GE) by 16.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,097 shares of the conglomerate’s stock after buying an additional 730 shares during the period. Pekin Hardy Strauss Inc.’s holdings in General Electric were worth $810,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GE. Terril Brothers Inc. raised its holdings in General Electric by 12.7% in the second quarter. Terril Brothers Inc. now owns 1,369 shares of the conglomerate’s stock worth $218,000 after purchasing an additional 154 shares in the last quarter. Wulff Hansen & CO. grew its position in shares of General Electric by 18,693.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock worth $256,581,000 after buying an additional 1,605,434 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in shares of General Electric by 55.2% during the second quarter. Citizens Financial Group Inc. RI now owns 7,172 shares of the conglomerate’s stock worth $1,140,000 after purchasing an additional 2,550 shares in the last quarter. Total Clarity Wealth Management Inc. raised its position in shares of General Electric by 31.6% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 1,700 shares of the conglomerate’s stock valued at $270,000 after purchasing an additional 408 shares during the last quarter. Finally, American Planning Services Inc. purchased a new position in General Electric in the 2nd quarter worth $1,307,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 0.6 %

Shares of NYSE GE opened at $180.32 on Wednesday. The stock has a market capitalization of $197.38 billion, a PE ratio of 59.12, a PEG ratio of 1.65 and a beta of 1.18. General Electric has a twelve month low of $84.42 and a twelve month high of $182.43. 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 fifty day simple moving average of $167.28 and a 200-day simple moving average of $170.87.

General Electric (NYSE:GE) last issued its quarterly 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. The company had revenue of $9.09 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 EPS. On average, equities analysts forecast that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued 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 36.72%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GE shares. Barclays boosted their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada lifted their price target 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. Sanford C. Bernstein started coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective on the stock. Wells Fargo & Company boosted their target price on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently 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.