MidWestOne Financial Group Inc. Has $1.21 Million Stock Holdings in General Electric (NYSE:GE)

MidWestOne Financial Group Inc. raised its holdings in General Electric (NYSE:GE) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,583 shares of the conglomerate’s stock after acquiring an additional 85 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in General Electric were worth $1,205,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Newport Trust Company LLC bought a new position in General Electric during the 2nd quarter worth $2,613,332,000. Capital World Investors increased its stake in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares during the period. Capital International Investors raised its position 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 acquiring an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of General Electric by 221.6% in 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 acquiring an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new stake in General Electric in the second quarter valued at approximately $580,200,000. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE:GE opened at $185.39 on Friday. General Electric has a twelve month low of $84.42 and a twelve month high of $190.88. The stock’s 50 day moving average is $171.51 and its 200-day moving average is $170.35. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $202.93 billion, a price-to-earnings ratio of 60.78, a PEG ratio of 1.87 and a beta of 1.18.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping 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 firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. Sell-side analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

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. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.60%. General Electric’s payout ratio is 36.72%.

Wall Street Analyst Weigh In

GE has been the subject of several analyst reports. Jefferies Financial Group raised their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Royal Bank of Canada lifted 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. 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 research report on Tuesday, July 30th. Sanford C. Bernstein began coverage on General Electric in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price objective for the company. Finally, StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.