General Electric (NYSE:GE) Shares Bought by Certuity LLC

Certuity LLC grew its stake in shares of General Electric (NYSE:GE) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 308,374 shares of the conglomerate’s stock after acquiring an additional 1,498 shares during the quarter. General Electric comprises about 3.9% of Certuity LLC’s holdings, making the stock its 4th largest position. Certuity LLC’s holdings in General Electric were worth $49,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Acadian Asset Management LLC increased its stake in shares of General Electric by 314.2% during the 2nd quarter. Acadian Asset Management LLC now owns 533,171 shares of the conglomerate’s stock valued at $84,744,000 after acquiring an additional 404,444 shares during the last quarter. Otter Creek Advisors LLC increased its stake in shares of General Electric by 18.8% during the 2nd quarter. Otter Creek Advisors LLC now owns 29,700 shares of the conglomerate’s stock valued at $4,721,000 after acquiring an additional 4,700 shares during the last quarter. Asset Dedication LLC increased its stake in shares of General Electric by 16.4% during the 2nd quarter. Asset Dedication LLC now owns 953 shares of the conglomerate’s stock valued at $151,000 after acquiring an additional 134 shares during the last quarter. Chris Bulman Inc acquired a new position in shares of General Electric during the 2nd quarter valued at about $68,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of General Electric during the 2nd quarter valued at about $188,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their target price 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. 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 research 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 research report on Monday, July 1st. Wells Fargo & Company increased their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Barclays increased their target price 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. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $190.38.

General Electric Stock Down 1.6 %

NYSE GE opened at $161.23 on Friday. The stock has a market cap of $176.48 billion, a PE ratio of 52.86, a P/E/G ratio of 1.73 and a beta of 1.18. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $177.20. The business has a 50 day moving average price of $165.78 and a two-hundred day moving average price of $163.28. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. As a group, sell-side analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is currently 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.