General Electric (NYSE:GE) Stock Holdings Decreased by WealthPLAN Partners LLC

WealthPLAN Partners LLC lessened its position in General Electric (NYSE:GE) by 4.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,502 shares of the conglomerate’s stock after selling 106 shares during the quarter. WealthPLAN Partners LLC’s holdings in General Electric were worth $398,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Terril Brothers Inc. lifted its stake in General Electric by 12.7% in the 2nd quarter. Terril Brothers Inc. now owns 1,369 shares of the conglomerate’s stock worth $218,000 after acquiring an additional 154 shares in the last quarter. Wulff Hansen & CO. increased its holdings in shares of General Electric by 18,693.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock valued at $256,581,000 after purchasing an additional 1,605,434 shares during the period. Citizens Financial Group Inc. RI lifted its position in shares of General Electric by 55.2% in the second quarter. Citizens Financial Group Inc. RI now owns 7,172 shares of the conglomerate’s stock worth $1,140,000 after purchasing an additional 2,550 shares in the last quarter. Total Clarity Wealth Management Inc. boosted its holdings in shares of General Electric by 31.6% during the second quarter. Total Clarity Wealth Management Inc. now owns 1,700 shares of the conglomerate’s stock worth $270,000 after purchasing an additional 408 shares during the period. Finally, American Planning Services Inc. purchased a new position in General Electric during the second quarter valued at approximately $1,307,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Down 0.6 %

NYSE:GE opened at $180.32 on Wednesday. The company’s 50 day moving average is $167.28 and its 200-day moving average is $170.87. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a 12 month low of $84.42 and a 12 month high of $182.43. The firm has a market cap of $197.38 billion, a price-to-earnings ratio of 59.12, a P/E/G ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $8.44 billion. During the same quarter last year, the firm posted $0.68 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Equities analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors 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 annualized dividend and a yield of 0.62%. General Electric’s payout ratio is 36.72%.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada lifted their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, UBS Group increased their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price 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.