Wealth Dimensions Group Ltd. Raises Stock Position in General Electric (NYSE:GE)

Wealth Dimensions Group Ltd. grew its holdings in shares of General Electric (NYSE:GE) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,408 shares of the conglomerate’s stock after purchasing an additional 449 shares during the quarter. Wealth Dimensions Group Ltd.’s holdings in General Electric were worth $1,178,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Studio Investment Management LLC increased its stake in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. MFA Wealth Advisors LLC acquired a new position in General Electric in the second quarter valued at approximately $31,000. Richardson Financial Services Inc. acquired a new stake in shares of General Electric in the first quarter valued at approximately $34,000. Financial Connections Group Inc. acquired a new stake in shares of General Electric in the second quarter valued at approximately $32,000. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of General Electric in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

Shares of 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 firm has a market capitalization of $195.15 billion, a PE ratio of 58.45, a P/E/G ratio of 1.65 and a beta of 1.18. The business’s fifty day moving average price is $166.57 and its two-hundred day moving average price is $171.10. 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 announced its earnings results 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 return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter last year, the business posted $0.68 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were given 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 36.72%.

Analysts Set New Price Targets

Several research firms have recently weighed in on GE. Jefferies Financial Group increased their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Sanford C. Bernstein began coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price objective for the company. Wells Fargo & Company increased their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their price target on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Barclays increased their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.14.

About General Electric

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.