General Electric (NYSE:GE) Shares Bought by Atlas Brown Inc.

Atlas Brown Inc. boosted its position in shares of General Electric (NYSE:GEGet Rating) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,054 shares of the conglomerate’s stock after buying an additional 218 shares during the period. Atlas Brown Inc.’s holdings in General Electric were worth $513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of General Electric by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 84,152,605 shares of the conglomerate’s stock valued at $7,699,963,000 after purchasing an additional 1,937,915 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of General Electric by 42.9% in the first quarter. Capital Research Global Investors now owns 77,124,340 shares of the conglomerate’s stock valued at $7,056,906,000 after buying an additional 23,155,612 shares in the last quarter. State Street Corp boosted its stake in shares of General Electric by 0.6% in the fourth quarter. State Street Corp now owns 43,496,942 shares of the conglomerate’s stock valued at $4,112,580,000 after buying an additional 255,566 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of General Electric by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 9,690,534 shares of the conglomerate’s stock valued at $886,683,000 after buying an additional 47,758 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of General Electric in the fourth quarter valued at approximately $698,826,000. 67.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Morgan Stanley decreased their price target on General Electric from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. Wells Fargo & Company lifted their price target on General Electric to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. The Goldman Sachs Group decreased their price target on General Electric from $108.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd. UBS Group reduced their price objective on General Electric from $113.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, August 4th. Finally, Credit Suisse Group reduced their price objective on General Electric from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.15.

General Electric Price Performance

Shares of NYSE GE traded down $1.26 during trading on Friday, reaching $64.10. The company had a trading volume of 450,240 shares, compared to its average volume of 5,474,241. General Electric has a twelve month low of $59.93 and a twelve month high of $116.17. The stock has a market capitalization of $70.29 billion, a PE ratio of -15.42, a price-to-earnings-growth ratio of 3.40 and a beta of 1.09. The stock has a 50-day moving average price of $72.91 and a two-hundred day moving average price of $77.09. The company has a current ratio of 1.13, a quick ratio of 0.80 and a debt-to-equity ratio of 0.77.

General Electric (NYSE:GEGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The conglomerate reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.40. The company had revenue of $18.65 billion during the quarter, compared to analysts’ expectations of $17.90 billion. General Electric had a positive return on equity of 7.50% and a negative net margin of 5.94%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. As a group, sell-side analysts predict that General Electric will post 2.74 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Tuesday, September 27th will be paid a $0.08 dividend. The ex-dividend date is Monday, September 26th. This represents a $0.32 annualized dividend and a yield of 0.50%. General Electric’s payout ratio is currently -7.55%.

About General Electric

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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

Further Reading

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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