Mittelman Wealth Management Acquires 1,494 Shares of General Electric (NYSE:GE)

Mittelman Wealth Management lifted its holdings in General Electric (NYSE:GE) by 109.3% during the second quarter, HoldingsChannel.com reports. The firm owned 2,861 shares of the conglomerate’s stock after purchasing an additional 1,494 shares during the period. Mittelman Wealth Management’s holdings in General Electric were worth $455,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GE. Capital World Investors increased its position in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares during the last quarter. Capital International Investors grew its stake in General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of 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 during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of General Electric during the 2nd quarter worth approximately $580,200,000. Finally, Evergreen Quality Fund GP Ltd. acquired a new stake in shares of General Electric in the 1st quarter valued at approximately $385,745,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 1.8 %

GE stock opened at $183.54 on Thursday. The business’s fifty day moving average price is $167.63 and its two-hundred day moving average price is $170.96. The stock has a market capitalization of $200.90 billion, a price-to-earnings ratio of 60.18, a PEG ratio of 1.65 and a beta of 1.18. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $185.77. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 EPS. On average, equities analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Analyst Ratings Changes

Several research firms have issued reports on GE. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Jefferies Financial Group upped their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Royal Bank of Canada upped their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $191.14.

About General Electric

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.