Sei Investments Co. Raises Position in General Electric (NYSE:GE)

Sei Investments Co. grew its holdings in General Electric (NYSE:GE) by 10.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 735,291 shares of the conglomerate’s stock after acquiring an additional 66,740 shares during the period. Sei Investments Co. owned about 0.07% of General Electric worth $116,886,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of GE. Studio Investment Management LLC lifted its stake in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric in the 2nd quarter valued at $31,000. Richardson Financial Services Inc. purchased a new stake in shares of General Electric during the 1st quarter worth $34,000. Financial Connections Group Inc. acquired a new position in shares of General Electric during the second quarter worth $32,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in General Electric in the first quarter valued at $37,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada increased their price target on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Sanford C. Bernstein began coverage on shares of General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price for the company. Two 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 a consensus rating of “Moderate Buy” and a consensus target price of $191.36.

General Electric Stock Performance

NYSE GE opened at $187.39 on Friday. The business’s 50-day moving average price is $168.69 and its 200 day moving average price is $170.96. 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 firm has a market cap of $205.12 billion, a P/E ratio of 61.44, a P/E/G ratio of 1.65 and a beta of 1.18. General Electric has a 52-week low of $84.42 and a 52-week high of $187.99.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities research analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given 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 0.60%. General Electric’s payout ratio is currently 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.