Perennial Investment Advisors LLC Has $656,000 Position in General Electric (NYSE:GE)

Perennial Investment Advisors LLC reduced its position in shares of General Electric (NYSE:GE) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,126 shares of the conglomerate’s stock after selling 172 shares during the period. Perennial Investment Advisors LLC’s holdings in General Electric were worth $656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Rathbones Group PLC boosted its position in General Electric by 2.7% during the fourth quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock valued at $28,821,000 after purchasing an additional 5,997 shares during the last quarter. Vanguard Group Inc. boosted its position in General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after purchasing an additional 550,996 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in General Electric by 3.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 288,224 shares of the conglomerate’s stock valued at $36,786,000 after purchasing an additional 8,788 shares during the last quarter. GAMMA Investing LLC boosted its position in General Electric by 25.4% during the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after purchasing an additional 3,442 shares during the last quarter. Finally, Makena Capital Management LLC boosted its position in General Electric by 26.2% during the fourth quarter. Makena Capital Management LLC now owns 149,855 shares of the conglomerate’s stock valued at $19,126,000 after purchasing an additional 31,107 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Price Performance

Shares of NYSE GE opened at $180.32 on Wednesday. The firm has a market cap of $197.38 billion, a P/E ratio of 59.12, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1-year low of $84.42 and a 1-year high of $182.43. The business’s 50 day moving average is $167.28 and its 200-day moving average is $170.87.

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

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Wall Street Analyst Weigh In

GE has been the subject of several recent research reports. UBS Group increased their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada raised their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company raised their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average price target of $191.14.

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.