Koss Olinger Consulting LLC Acquires New Shares in General Electric (NYSE:GE)

Koss Olinger Consulting LLC bought a new position in shares of General Electric (NYSE:GE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,510 shares of the conglomerate’s stock, valued at approximately $1,194,000.

Other large investors also recently bought and sold shares of the company. Capital World Investors grew its holdings in General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares during the last quarter. Norges Bank purchased a new stake in shares of General Electric in the fourth quarter valued at $1,193,159,000. Capital International Investors boosted its stake in shares of General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board increased its position in General Electric by 221.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares in the last quarter. Finally, Evergreen Quality Fund GP Ltd. acquired a new position in General Electric in the 1st quarter valued at about $385,745,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Down 1.6 %

Shares of GE opened at $161.23 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. General Electric has a one year low of $84.42 and a one year high of $177.20. The stock has a 50-day moving average price of $165.78 and a 200 day moving average price of $163.28. The company has a market capitalization of $176.48 billion, a P/E ratio of 52.86, a P/E/G ratio of 1.73 and a beta of 1.18.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. Sell-side analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is currently 36.72%.

Analyst Ratings Changes

GE has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. UBS Group increased their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Finally, Jefferies Financial Group lifted their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $190.38.

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.