Quilter Plc Lowers Stake in General Electric (NYSE:GE)

Quilter Plc reduced its position in General Electric (NYSE:GE) by 4.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 11,343 shares of the conglomerate’s stock after selling 544 shares during the period. Quilter Plc’s holdings in General Electric were worth $1,803,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Studio Investment Management LLC increased its stake in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric in the second quarter worth approximately $31,000. Kapitalo Investimentos Ltda purchased a new stake in General Electric in the fourth quarter valued at approximately $32,000. Financial Connections Group Inc. acquired a new position in General Electric during the second quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. purchased a new position in General Electric during the first quarter worth approximately $34,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on GE. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Jefferies Financial Group boosted their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, Wells Fargo & Company lifted their price target on shares of General Electric from $192.00 to $205.00 and gave the company 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 assigned a buy rating to the company. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Stock Performance

NYSE:GE opened at $178.28 on Monday. General Electric has a 1-year low of $84.42 and a 1-year high of $179.32. The stock has a market cap 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 has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The firm has a 50-day moving average of $166.57 and a two-hundred day moving average of $171.10.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 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 the consensus estimate of $8.44 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. General Electric’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, research analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

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. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.63%. General Electric’s dividend payout ratio is presently 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.