General Electric (NYSE:GE) Shares Bought by Carolinas Wealth Consulting LLC

Carolinas Wealth Consulting LLC grew its position in General Electric (NYSE:GE) by 14.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 665 shares of the conglomerate’s stock after acquiring an additional 83 shares during the quarter. Carolinas Wealth Consulting LLC’s holdings in General Electric were worth $106,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital World Investors boosted its stake in General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Capital International Investors boosted its stake in shares of General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after buying an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after buying an additional 4,907,530 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in General Electric in the 2nd quarter valued at about $580,200,000. Finally, Evergreen Quality Fund GP Ltd. purchased a new stake in General Electric during the 1st quarter valued at approximately $385,745,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GE shares. Wells Fargo & Company boosted their target price on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Jefferies Financial Group upped their price objective on shares of 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 target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Sanford C. Bernstein started coverage on shares of General Electric in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.14.

General Electric Price Performance

Shares of NYSE GE opened at $183.54 on Thursday. 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’s 50-day moving average price is $167.63 and its 200 day moving average price is $170.96. General Electric has a 52 week low of $84.42 and a 52 week high of $185.77. The stock has a market cap 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 (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating 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 business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period in the prior year, the business earned $0.68 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is currently 36.72%.

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.