CX Institutional Increases Stock Holdings in General Electric (NYSE:GE)

CX Institutional grew its position in General Electric (NYSE:GE) by 19.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 8,414 shares of the conglomerate’s stock after purchasing an additional 1,351 shares during the period. CX Institutional’s holdings in General Electric were worth $1,338,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Criterion Capital Advisors LLC acquired a new stake in General Electric in the 4th quarter worth about $27,000. Capital Analysts LLC lifted its stake in shares of General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares in the last quarter. Bfsg LLC acquired a new position in shares of General Electric in the 4th quarter valued at about $32,000. Kapitalo Investimentos Ltda acquired a new position in shares of General Electric in the 4th quarter valued at about $32,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of General Electric during the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE:GE traded up $1.43 during midday trading on Friday, reaching $167.04. 330,603 shares of the company traded hands, compared to its average volume of 7,027,611. General Electric has a twelve month low of $84.42 and a twelve month high of $177.20. The firm has a market capitalization of $182.84 billion, a price-to-earnings ratio of 54.30, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The company has a fifty day moving average price of $162.52 and a 200 day moving average price of $158.56.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts expect that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. General Electric’s dividend payout ratio is currently 36.72%.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the transaction, the senior vice president now owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

GE has been the topic of several analyst reports. UBS Group raised their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Jefferies Financial Group raised their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. The Goldman Sachs Group raised their target price on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Barclays lifted their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Argus lifted their price objective on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $185.71.

General Electric 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.