MGO One Seven LLC Grows Holdings in General Electric (NYSE:GE)

MGO One Seven LLC increased its stake in General Electric (NYSE:GE) by 139.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,034 shares of the conglomerate’s stock after buying an additional 15,752 shares during the period. MGO One Seven LLC’s holdings in General Electric were worth $4,298,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GE. Capital World Investors raised its position in shares of General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares in the last quarter. Norges Bank acquired a new stake in shares of General Electric during the fourth quarter worth $1,193,159,000. Capital International Investors lifted its position in shares of General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after buying an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the period. Finally, Evergreen Quality Fund GP Ltd. bought a new stake in shares of General Electric during the 1st quarter valued at about $385,745,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GE. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada boosted their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their target price on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Sanford C. Bernstein initiated coverage on shares of General Electric in a report on Tuesday. They set an “outperform” rating and a $201.00 price target for the company. Finally, Jefferies Financial Group increased their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.14.

General Electric Trading Up 1.0 %

Shares of NYSE:GE opened at $166.96 on Wednesday. General Electric has a twelve month low of $84.42 and a twelve month high of $177.20. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market cap of $182.76 billion, a P/E ratio of 54.74, a P/E/G ratio of 1.60 and a beta of 1.18. The company has a 50 day moving average of $166.02 and a 200-day moving average of $163.58.

General Electric (NYSE:GE) last issued its quarterly earnings results 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 firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the company posted $0.68 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. 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.