Main Street Financial Solutions LLC Has $405,000 Position in General Electric (NYSE:GE)

Main Street Financial Solutions LLC reduced its stake in shares of General Electric (NYSE:GE) by 6.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,547 shares of the conglomerate’s stock after selling 169 shares during the quarter. Main Street Financial Solutions LLC’s holdings in General Electric were worth $405,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in GE. Studio Investment Management LLC boosted its holdings in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. MFA Wealth Advisors LLC bought a new position in General Electric during the second quarter valued at approximately $31,000. Kapitalo Investimentos Ltda bought a new position in General Electric during the fourth quarter valued at approximately $32,000. Financial Connections Group Inc. bought a new position in General Electric during the second quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. bought a new position in General Electric during the first quarter valued at approximately $34,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on GE shares. Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. UBS Group lifted their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Finally, Wells Fargo & Company lifted their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average target price of $191.14.

General Electric Trading Up 5.1 %

Shares of GE stock opened at $178.28 on Friday. General Electric has a 1 year low of $84.42 and a 1 year high of $179.32. The firm’s fifty day simple moving average is $166.57 and its 200 day simple moving average is $171.42. The firm has a market capitalization of $195.15 billion, a P/E ratio of 58.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the firm posted $0.68 earnings per share. General Electric’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.63%. 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.