Clearwater Capital Advisors LLC Buys New Stake in General Electric (NYSE:GE)

Clearwater Capital Advisors LLC bought a new position in General Electric (NYSE:GE) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 1,384 shares of the conglomerate’s stock, valued at approximately $220,000.

Other hedge funds have also recently made changes to their positions in the company. Aveo Capital Partners LLC purchased a new position in General Electric in the 4th quarter worth about $203,000. Gryphon Financial Partners LLC boosted its stake in shares of General Electric by 57.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock worth $1,526,000 after buying an additional 4,354 shares during the period. Principal Securities Inc. purchased a new position in shares of General Electric in the 4th quarter valued at approximately $441,000. Berger Financial Group Inc increased its stake in General Electric by 15.1% in the 4th quarter. Berger Financial Group Inc now owns 2,302 shares of the conglomerate’s stock valued at $294,000 after buying an additional 302 shares during the period. Finally, Calton & Associates Inc. purchased a new stake in General Electric in the 4th quarter valued at approximately $264,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GE. 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 research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Barclays increased their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. UBS Group upped their price objective 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $190.38.

General Electric Price Performance

NYSE GE traded down $2.62 during trading hours on Friday, reaching $161.23. 3,954,854 shares of the company’s stock were exchanged, compared to its average volume of 6,700,422. The firm has a fifty day moving average of $165.78 and a 200-day moving average of $163.28. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a one year low of $84.42 and a one year high of $177.20. The stock has a market cap of $176.48 billion, a PE ratio of 52.86, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The company’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio is 36.72%.

About General Electric

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.