Lantz Financial LLC Increases Holdings in General Electric (NYSE:GE)

Lantz Financial LLC grew its stake in shares of General Electric (NYSE:GE) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,718 shares of the conglomerate’s stock after acquiring an additional 70 shares during the quarter. Lantz Financial LLC’s holdings in General Electric were worth $591,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Aveo Capital Partners LLC purchased a new stake in General Electric during the 4th quarter valued at $203,000. Gryphon Financial Partners LLC grew its position in General Electric by 57.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock worth $1,526,000 after purchasing an additional 4,354 shares during the period. Principal Securities Inc. purchased a new position in shares of General Electric in the 4th quarter worth $441,000. Cary Street Partners Investment Advisory LLC lifted its holdings in General Electric by 7.7% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 3,145 shares of the conglomerate’s stock valued at $401,000 after acquiring an additional 226 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of General Electric during the 4th quarter valued at about $477,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 1.0 %

Shares of GE stock opened at $166.96 on Wednesday. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $177.20. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The firm has a market capitalization of $182.76 billion, a PE ratio of 54.74, a P/E/G ratio of 1.60 and a beta of 1.18. The stock’s 50-day simple moving average is $166.02 and its 200-day simple moving average is $163.58.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating 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 return on equity of 16.07% and a net margin of 7.66%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. Equities analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. General Electric’s dividend payout ratio is presently 36.72%.

Analysts Set New Price Targets

GE has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their target price on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Jefferies Financial Group increased their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Barclays upped their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, UBS Group upped their price target on shares of 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average target price of $191.14.

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.