Peregrine Asset Advisers Inc. Has $2.73 Million Position in General Electric (NYSE:GE)

Peregrine Asset Advisers Inc. grew its stake in shares of General Electric (NYSE:GE) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,178 shares of the conglomerate’s stock after acquiring an additional 739 shares during the period. General Electric accounts for 1.1% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 28th biggest holding. Peregrine Asset Advisers Inc.’s holdings in General Electric were worth $2,731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Studio Investment Management LLC grew its position in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of General Electric during the 2nd quarter worth about $31,000. Richardson Financial Services Inc. acquired a new position in shares of General Electric during the 1st quarter valued at about $34,000. Financial Connections Group Inc. acquired a new stake in General Electric in the 2nd quarter worth approximately $32,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in General Electric during the first quarter worth approximately $37,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Jefferies Financial Group boosted their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Sanford C. Bernstein assumed coverage on shares of General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price target for the company. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company lifted 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 analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Trading Up 1.8 %

Shares of GE opened at $181.46 on Tuesday. The stock has a fifty day moving average price of $166.93 and a two-hundred day moving average price of $171.00. 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 company has a market cap of $198.63 billion, a price-to-earnings ratio of 59.50, 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 $181.52.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The company’s revenue was up 3.9% on a year-over-year basis. Analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric’s 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.