Signaturefd LLC Boosts Holdings in General Electric (NYSE:GE)

Signaturefd LLC grew its position in General Electric (NYSE:GE) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,866 shares of the conglomerate’s stock after buying an additional 872 shares during the period. Signaturefd LLC’s holdings in General Electric were worth $2,999,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MFA Wealth Advisors LLC purchased a new position in shares of General Electric during the 2nd quarter worth approximately $31,000. Richardson Financial Services Inc. purchased a new position in shares of General Electric during the 1st quarter worth approximately $34,000. Financial Connections Group Inc. purchased a new position in shares of General Electric during the 2nd quarter worth approximately $32,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of General Electric during the 1st quarter worth approximately $37,000. Finally, Macroview Investment Management LLC boosted its position in shares of General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GE shares. JPMorgan Chase & Co. increased their target price on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada increased their target price on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. UBS Group increased their target price 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, Wells Fargo & Company raised their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $190.38.

General Electric Stock Performance

General Electric stock traded up $1.04 during midday trading on Friday, hitting $174.62. 5,114,420 shares of the company’s stock were exchanged, compared to its average volume of 6,756,916. General Electric has a 12-month low of $84.42 and a 12-month high of $177.20. 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 stock has a market cap of $191.14 billion, a price-to-earnings ratio of 57.25, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21. The firm’s 50 day simple moving average is $164.98 and its 200 day simple moving average is $162.28.

General Electric (NYSE:GE) last issued 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 net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period last year, the firm posted $0.68 EPS. General Electric’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities research analysts predict that General Electric will post 4.15 EPS for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Thursday, July 11th. 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.