General Electric (NYSE:GE) Shares Acquired by Royal Capital Wealth Management LLC

Royal Capital Wealth Management LLC increased its stake in shares of General Electric (NYSE:GE) by 115.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,270 shares of the conglomerate’s stock after acquiring an additional 1,752 shares during the period. Royal Capital Wealth Management LLC’s holdings in General Electric were worth $520,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GE. Studio Investment Management LLC increased its position in shares of General Electric by 97.5% during 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 purchased a new stake in General Electric during the 2nd quarter worth approximately $31,000. Kapitalo Investimentos Ltda acquired a new position in shares of General Electric in the 4th quarter valued at approximately $32,000. Financial Connections Group Inc. purchased a new position in shares of General Electric during the 2nd quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of General Electric during the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 0.6 %

General Electric stock opened at $189.79 on Wednesday. The firm has a market capitalization of $205.79 billion, a P/E ratio of 62.23, a P/E/G ratio of 1.87 and a beta of 1.18. The company has a 50-day simple moving average of $169.81 and a 200-day simple moving average of $170.28. General Electric has a one year low of $84.42 and a one year high of $189.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last announced 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. The company 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%. General Electric’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 earnings per share. As a group, 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 will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.59%. General Electric’s payout ratio is 36.72%.

Wall Street Analyst Weigh In

GE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a report on Friday, September 20th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company boosted their price objective 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 lifted their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Sanford C. Bernstein began coverage on General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently 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.