L. Roy Papp & Associates LLP Grows Holdings in General Electric (NYSE:GE)

L. Roy Papp & Associates LLP boosted its holdings in shares of General Electric (NYSE:GE) by 4.8% in the second quarter, HoldingsChannel reports. The fund owned 1,817 shares of the conglomerate’s stock after acquiring an additional 84 shares during the period. L. Roy Papp & Associates LLP’s holdings in General Electric were worth $289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital World Investors increased 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 valued at $2,237,930,000 after purchasing an additional 12,312,648 shares in the last quarter. Norges Bank purchased a new stake in General Electric during the 4th quarter valued at $1,193,159,000. Capital International Investors raised its stake in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board boosted its position 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 valued at $1,250,079,000 after buying an additional 4,907,530 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. bought a new stake in General Electric in the 1st quarter worth about $385,745,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays raised their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Wells Fargo & Company boosted their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Citigroup raised their price target on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Royal Bank of Canada increased 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 investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.38.

General Electric Price Performance

NYSE:GE traded up $1.54 on Friday, reaching $171.22. 3,912,253 shares of the company’s stock traded hands, compared to its average volume of 6,834,152. The stock has a 50-day simple moving average of $164.08 and a 200-day simple moving average of $161.12. General Electric has a 12 month low of $84.42 and a 12 month high of $177.20. The firm has a market cap of $187.42 billion, a PE ratio of 55.81, a P/E/G ratio of 1.70 and a beta of 1.21. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its 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. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter last year, the company earned $0.68 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts forecast that General Electric will post 4.15 earnings per share for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

General Electric Company 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.