Wulff Hansen & CO. Has $256.58 Million Holdings in General Electric (NYSE:GE)

Wulff Hansen & CO. lifted its stake in General Electric (NYSE:GE) by 18,693.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,614,022 shares of the conglomerate’s stock after buying an additional 1,605,434 shares during the period. General Electric comprises approximately 1.4% of Wulff Hansen & CO.’s portfolio, making the stock its 17th biggest holding. Wulff Hansen & CO.’s holdings in General Electric were worth $256,581,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GE. Studio Investment Management LLC lifted its position in shares of General Electric by 97.5% in the 2nd 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 period. MFA Wealth Advisors LLC bought a new position in General Electric in the second quarter worth $31,000. Richardson Financial Services Inc. bought a new position in General Electric in the first quarter worth $34,000. Financial Connections Group Inc. acquired a new stake in General Electric during the second quarter worth $32,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of General Electric in the 1st quarter valued at $37,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of several recent research reports. Sanford C. Bernstein initiated coverage on shares of General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price on the stock. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Barclays upped their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, UBS Group lifted their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $191.14.

General Electric Price Performance

Shares of GE stock opened at $181.46 on Tuesday. General Electric has a 1 year low of $84.42 and a 1 year high of $181.52. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm’s 50 day moving average is $166.93 and its 200-day moving average is $171.00. The firm has a market capitalization of $198.63 billion, a price-to-earnings ratio of 59.50, a PEG ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last posted 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. The firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 EPS. Sell-side analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is 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.