Optas LLC Buys 153 Shares of General Electric (NYSE:GE)

Optas LLC raised its stake in General Electric (NYSE:GE) by 2.1% during the second quarter, HoldingsChannel.com reports. The fund owned 7,502 shares of the conglomerate’s stock after acquiring an additional 153 shares during the quarter. Optas LLC’s holdings in General Electric were worth $1,193,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GE. MFA Wealth Advisors LLC bought a new stake in shares of General Electric in the 2nd quarter worth about $31,000. Richardson Financial Services Inc. acquired a new position in General Electric in the first quarter valued at about $34,000. ANTIPODES PARTNERS Ltd bought a new stake in General Electric during the first quarter worth about $37,000. Macroview Investment Management LLC grew its stake in General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after buying an additional 58 shares during the last quarter. Finally, Horrell Capital Management Inc. acquired a new stake in shares of General Electric during the first quarter worth approximately $44,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Trading Up 0.9 %

General Electric stock traded up $1.54 during trading hours on Friday, reaching $171.22. 4,058,017 shares of the company’s stock traded hands, compared to its average volume of 6,834,152. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $177.20. The firm’s 50 day moving average is $164.39 and its 200-day moving average is $161.52. 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 firm has a market capitalization of $187.42 billion, a price-to-earnings ratio of 56.14, a PEG ratio of 1.70 and a beta of 1.21.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating 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 business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period in the prior year, the business posted $0.68 earnings per share. General Electric’s revenue was up 3.9% compared to the same quarter last year. On average, analysts predict that General Electric will post 4.15 earnings per share for the current 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 paid a dividend of $0.28 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Analysts Set New Price Targets

GE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Jefferies Financial Group boosted their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. UBS Group increased their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Barclays lifted their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada upped their price target 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. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $190.38.

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.