General Electric (NYSE:GE) Holdings Raised by 1ST Source Bank

1ST Source Bank lifted its stake in shares of General Electric (NYSE:GE) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,336 shares of the conglomerate’s stock after purchasing an additional 382 shares during the quarter. 1ST Source Bank’s holdings in General Electric were worth $1,961,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Scholtz & Company LLC grew its holdings in General Electric by 9.1% during the second quarter. Scholtz & Company LLC now owns 43,717 shares of the conglomerate’s stock worth $6,950,000 after acquiring an additional 3,632 shares during the period. SYM FINANCIAL Corp grew its holdings in General Electric by 37.2% during the second quarter. SYM FINANCIAL Corp now owns 6,400 shares of the conglomerate’s stock worth $1,017,000 after acquiring an additional 1,735 shares during the period. Federated Hermes Inc. increased its stake in General Electric by 1.9% in the 2nd quarter. Federated Hermes Inc. now owns 793,087 shares of the conglomerate’s stock worth $126,077,000 after purchasing an additional 15,133 shares in the last quarter. Pinkerton Retirement Specialists LLC purchased a new position in General Electric in the 2nd quarter worth about $724,000. Finally, GHP Investment Advisors Inc. increased its stake in General Electric by 14.9% in the 2nd quarter. GHP Investment Advisors Inc. now owns 1,167 shares of the conglomerate’s stock worth $186,000 after purchasing an additional 151 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GE shares. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Sanford C. Bernstein began coverage on General Electric in a research report on Tuesday. They set an “outperform” rating and a $201.00 price objective for the company. Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group raised their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Wells Fargo & Company raised their price objective 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 investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $191.14.

General Electric Price Performance

Shares of GE stock opened at $178.28 on Friday. The stock’s fifty 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 quick ratio of 0.85 and a current ratio of 1.14. The stock has a market capitalization of $195.15 billion, a PE ratio of 58.45, a PEG ratio of 1.65 and a beta of 1.18. General Electric has a 52 week low of $84.42 and a 52 week high of $179.32.

General Electric (NYSE:GE) last announced 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 company had revenue of $9.09 billion for 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 for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. Equities research analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The company 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 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio is 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.