Consolidated Portfolio Review Corp Makes New Investment in General Electric (NYSE:GE)

Consolidated Portfolio Review Corp purchased a new position in shares of General Electric (NYSE:GE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,133 shares of the conglomerate’s stock, valued at approximately $1,452,000.

A number of other hedge funds have also recently made changes to their positions in the business. MFA Wealth Advisors LLC purchased a new stake in General Electric during the second quarter valued at about $31,000. Kapitalo Investimentos Ltda bought a new position in General Electric during the 4th quarter worth approximately $32,000. Financial Connections Group Inc. bought a new position in General Electric during the 2nd quarter worth approximately $32,000. Richardson Financial Services Inc. bought a new stake in General Electric in the first quarter valued at approximately $34,000. Finally, Macroview Investment Management LLC boosted its stake in shares of General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 58 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GE. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. JPMorgan Chase & Co. boosted their price target on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Royal Bank of Canada upped their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. UBS Group lifted their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Finally, Jefferies Financial Group raised their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price of $190.38.

General Electric Stock Up 0.6 %

Shares of NYSE GE traded up $1.04 during trading on Friday, reaching $174.62. The company had a trading volume of 5,295,576 shares, compared to its average volume of 4,164,248. General Electric has a 12-month low of $84.42 and a 12-month high of $177.20. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The business’s 50-day moving average is $165.18 and its 200 day moving average is $162.66. The stock has a market cap of $189.34 billion, a PE ratio of 57.25, a P/E/G ratio of 1.73 and a beta of 1.21.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating 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 business had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the business earned $0.68 EPS. General Electric’s revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed 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 was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.64%. 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.