Caprock Group LLC Boosts Stake in General Electric (NYSE:GE)

Caprock Group LLC boosted its stake in shares of General Electric (NYSE:GE) by 20.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,292 shares of the conglomerate’s stock after purchasing an additional 11,254 shares during the period. Caprock Group LLC’s holdings in General Electric were worth $10,380,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric in the second quarter worth $31,000. Kapitalo Investimentos Ltda bought a new position in General Electric in the 4th quarter worth $32,000. Financial Connections Group Inc. purchased a new stake in General Electric in the 2nd quarter worth $32,000. Richardson Financial Services Inc. bought a new stake in General Electric during the first quarter valued at about $34,000. Finally, Macroview Investment Management LLC lifted its position in shares of 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 acquiring an additional 58 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 1.6 %

Shares of NYSE:GE opened at $161.23 on Friday. The company has a market cap of $176.48 billion, a price-to-earnings ratio of 52.86, a PEG ratio of 1.73 and a beta of 1.18. General Electric has a 12 month low of $84.42 and a 12 month high of $177.20. 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 company has a 50-day moving average price of $165.78 and a 200 day moving average price of $163.28.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The business 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 company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, equities research analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is 36.72%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank of Canada increased their target price on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Company increased their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. 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 report on Monday, May 13th. Jefferies Financial Group raised their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Barclays boosted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $190.38.

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.