Nemes Rush Group LLC Increases Stock Position in General Electric (NYSE:GE)

Nemes Rush Group LLC boosted its position in shares of General Electric (NYSE:GE) by 11.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,198 shares of the conglomerate’s stock after buying an additional 121 shares during the quarter. Nemes Rush Group LLC’s holdings in General Electric were worth $190,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aveo Capital Partners LLC purchased a new position in shares of General Electric during the 4th quarter valued at approximately $203,000. Evoke Wealth LLC purchased a new position in General Electric during the fourth quarter valued at $260,000. Dorsey & Whitney Trust CO LLC lifted its holdings in General Electric by 37.8% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 3,705 shares of the conglomerate’s stock valued at $473,000 after purchasing an additional 1,016 shares in the last quarter. Scotia Capital Inc. grew its position in shares of General Electric by 16.9% in the fourth quarter. Scotia Capital Inc. now owns 21,085 shares of the conglomerate’s stock valued at $2,691,000 after purchasing an additional 3,055 shares during the period. Finally, Eagle Asset Management Inc. increased its stake in shares of General Electric by 24.9% during the fourth quarter. Eagle Asset Management Inc. now owns 53,783 shares of the conglomerate’s stock worth $6,864,000 after purchasing an additional 10,705 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

General Electric stock opened at $185.38 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a 50-day moving average price of $171.51 and a 200 day moving average price of $169.77. General Electric has a 12-month low of $84.42 and a 12-month high of $190.88. The stock has a market cap of $202.92 billion, a P/E ratio of 60.78, a PEG ratio of 1.87 and a beta of 1.18.

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

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders 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 0.60%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GE. UBS Group raised their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Jefferies Financial Group boosted their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.36.

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.