Mount Yale Investment Advisors LLC Has $485,000 Stock Position in General Electric (NYSE:GE)

Mount Yale Investment Advisors LLC grew its holdings in shares of General Electric (NYSE:GE) by 79.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,053 shares of the conglomerate’s stock after purchasing an additional 1,351 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in General Electric were worth $485,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of GE. Studio Investment Management LLC lifted its position in shares of 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 buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC bought a new position in shares of General Electric in the 2nd quarter valued at approximately $31,000. Richardson Financial Services Inc. acquired a new stake in General Electric in the 1st quarter worth approximately $34,000. Financial Connections Group Inc. bought a new stake in General Electric during the second quarter worth approximately $32,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in General Electric during the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

GE opened at $188.71 on Tuesday. The stock’s 50 day simple moving average is $169.27 and its 200-day simple moving average is $170.43. 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 stock has a market cap of $206.56 billion, a PE ratio of 61.87, a P/E/G ratio of 1.65 and a beta of 1.18. General Electric has a 1 year low of $84.42 and a 1 year high of $189.78.

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, beating the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates 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 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. Sell-side analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.59%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Wall Street Analysts Forecast Growth

GE has been the subject of several recent analyst reports. UBS Group upped their price objective 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. Sanford C. Bernstein assumed coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target for the company. Jefferies Financial Group raised their price target 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 boosted their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada raised their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.