Beverly Hills Private Wealth LLC Has $252,000 Stock Position in General Electric (NYSE:GE)

Beverly Hills Private Wealth LLC lessened its position in shares of General Electric (NYSE:GE) by 5.8% in the second quarter, HoldingsChannel.com reports. The firm owned 1,585 shares of the conglomerate’s stock after selling 97 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in General Electric were worth $252,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after buying an additional 550,996 shares during the period. Capital International Investors raised 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 acquiring an additional 5,309,543 shares in the last quarter. Capital World Investors lifted its stake in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Norges Bank bought a new stake in shares of General Electric during the 4th quarter valued at about $1,193,159,000. Finally, Canada Pension Plan Investment Board grew its stake in General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares during the period. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of several research analyst reports. Jefferies Financial Group lifted their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. UBS Group raised their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company upped 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. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Stock Up 5.1 %

GE opened at $178.28 on Friday. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $179.32. The firm has a market capitalization of $195.15 billion, a P/E ratio of 58.45, a PEG ratio of 1.65 and a beta of 1.18. The company’s 50-day moving average is $166.57 and its 200 day moving average is $171.42. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 EPS. Research analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

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.