General Electric (NYSE:GE) Shares Bought by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC lifted its position in shares of General Electric (NYSE:GE) by 14.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,229 shares of the conglomerate’s stock after acquiring an additional 285 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in General Electric were worth $245,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GE. Pinnacle Wealth Planning Services Inc. raised its stake in shares of General Electric by 2.0% during the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 4,412 shares of the conglomerate’s stock worth $485,000 after buying an additional 88 shares during the last quarter. Vise Technologies Inc. raised its position in General Electric by 2.8% during the second quarter. Vise Technologies Inc. now owns 3,261 shares of the conglomerate’s stock worth $358,000 after acquiring an additional 89 shares during the last quarter. Hengehold Capital Management LLC lifted its holdings in shares of General Electric by 2.4% in the second quarter. Hengehold Capital Management LLC now owns 4,232 shares of the conglomerate’s stock valued at $465,000 after purchasing an additional 98 shares in the last quarter. SFG Wealth Management LLC. grew its position in shares of General Electric by 0.6% in the second quarter. SFG Wealth Management LLC. now owns 16,956 shares of the conglomerate’s stock valued at $1,863,000 after purchasing an additional 100 shares during the last quarter. Finally, Ropes Wealth Advisors LLC increased its stake in shares of General Electric by 0.4% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 24,571 shares of the conglomerate’s stock worth $2,699,000 after purchasing an additional 102 shares in the last quarter. 74.83% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Up 0.1 %

Shares of NYSE GE opened at $120.08 on Tuesday. The stock has a market capitalization of $130.69 billion, a PE ratio of 13.54, a P/E/G ratio of 3.28 and a beta of 1.26. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.65. The firm has a fifty day moving average of $111.82 and a 200-day moving average of $109.72. General Electric has a 52-week low of $59.57 and a 52-week high of $120.74.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The firm had revenue of $17.35 billion during the quarter, compared to the consensus estimate of $15.46 billion. General Electric had a return on equity of 11.10% and a net margin of 14.38%. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 earnings per share. On average, analysts anticipate that General Electric will post 2.65 EPS for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Tuesday, September 26th were issued a $0.08 dividend. The ex-dividend date was Monday, September 25th. This represents a $0.32 annualized dividend and a yield of 0.27%. General Electric’s payout ratio is 3.61%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GE. Oppenheimer lowered General Electric from an “outperform” rating to a “market perform” rating in a research note on Monday, July 31st. Argus lifted their price objective on General Electric from $112.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of General Electric in a report on Wednesday, September 27th. They issued a “buy” rating and a $141.00 target price on the stock. The Goldman Sachs Group lifted their price target on shares of General Electric from $121.00 to $133.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Finally, StockNews.com started coverage on shares of General Electric in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus price target of $122.93.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.