Revolve Wealth Partners LLC Boosts Stock Holdings in General Electric (NYSE:GE)

Revolve Wealth Partners LLC grew its stake in shares of General Electric (NYSE:GE) by 6.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,791 shares of the conglomerate’s stock after buying an additional 111 shares during the quarter. Revolve Wealth Partners LLC’s holdings in General Electric were worth $285,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GE. Criterion Capital Advisors LLC acquired a new stake in shares of General Electric in the fourth quarter worth $27,000. Capital Analysts LLC increased its holdings in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares in the last quarter. Bfsg LLC purchased a new position in General Electric in the fourth quarter valued at about $32,000. Kapitalo Investimentos Ltda acquired a new position in shares of General Electric during the fourth quarter worth about $32,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of General Electric in the first quarter worth about $34,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GE has been the topic of several analyst reports. UBS Group raised their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. JPMorgan Chase & Co. boosted their target price on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Argus raised their price target on shares of General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Bank of America lifted their price target on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada upped their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average target price of $190.38.

General Electric Stock Performance

NYSE:GE traded down $0.52 during trading hours on Friday, reaching $169.42. 3,305,648 shares of the stock were exchanged, compared to its average volume of 6,935,916. General Electric has a 52 week low of $84.42 and a 52 week high of $177.20. 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 stock has a market capitalization of $185.45 billion, a P/E ratio of 55.55, a P/E/G ratio of 1.70 and a beta of 1.21. The firm has a 50 day simple moving average of $163.24 and a 200-day simple moving average of $160.31.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period last year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, sell-side analysts forecast that General Electric will post 4.15 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio is presently 36.72%.

Insider Buying and Selling

In other news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the sale, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by company insiders.

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.