Wealth Effects LLC Invests $336,000 in General Electric (NYSE:GE)

Wealth Effects LLC bought a new stake in General Electric (NYSE:GE) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 2,111 shares of the conglomerate’s stock, valued at approximately $336,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric during the 2nd quarter worth about $31,000. Richardson Financial Services Inc. acquired a new position in General Electric in the 1st quarter worth about $34,000. Financial Connections Group Inc. purchased a new position in General Electric during the second quarter worth approximately $32,000. ANTIPODES PARTNERS Ltd acquired a new stake in General Electric in the first quarter valued at approximately $37,000. Finally, Macroview Investment Management LLC grew its holdings in General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 58 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Trading Up 0.9 %

General Electric stock traded up $1.49 during trading on Wednesday, reaching $165.70. 379,030 shares of the company were exchanged, compared to its average volume of 6,715,536. The stock’s 50 day simple moving average is $165.56 and its two-hundred day simple moving average is $163.07. The company has a market capitalization of $179.67 billion, a P/E ratio of 53.86, a PEG ratio of 1.73 and a beta of 1.21. General Electric has a 52-week low of $84.42 and a 52-week high of $177.20. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS 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 analyst estimates of $8.44 billion. During the same period last year, the business earned $0.68 EPS. General Electric’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities research analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. General Electric’s dividend payout ratio is presently 36.72%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GE shares. Jefferies Financial Group increased their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Wells Fargo & Company upped their price objective on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Barclays lifted their target price 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. JPMorgan Chase & Co. upped their price target 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. Finally, StockNews.com lowered shares of 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 thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.38.

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.