General Electric (NYSE:GE) shares bought by Archer Investment Corp

Archer Investment Corp boosted its holdings in shares of General Electric (NYSE:GE – Free Report) by 89.4% during the second quarter, Holdings Channel reports. The fund owned 394 shares of the conglomerate’s stock after buying an additional 186 shares during the quarter. Archer Investment Corp’s holdings in General Electric were worth $63,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GE. Capital World Investors raised its stake in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $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 in the fourth quarter valued at about $1,193,159,000. Capital International Investors raised its stake in General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of General Electric by 221.6% in 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 period. Finally, Evergreen Quality Fund GP Ltd. bought a new stake in shares of General Electric in the first quarter worth $385,745,000. Institutional investors and hedge funds own 74.77% of the company’s shares.

General Electric price performance

Shares of NYSE:GE opened at $166.36 on Thursday. The stock has a market cap of $180.39 billion, a P/E ratio of 54.54, a P/E/G ratio of 1.73 and a beta of 1.21. The company has a 50 day moving average of $165.67 and a two hundred day moving average of $163.09. General Electric has a fifty-two week low of $84.42 and a fifty-two 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 – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The company 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 revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. On average, equities research analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents an annualized dividend of $1.12 and a yield of 0.67%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Analyst upgrades and downgrades

A number of brokerages recently weighed in on GE. Barclays raised their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, UBS Group upped their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $190.38.

Read our latest report on GE

About General Electric

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General Electric Company, doing business as GE Aerospace, designs and manufactures commercial and defense aircraft engines, integrated engine components, electrical power and aircraft mechanical systems. They also offer aftermarket services to support their products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East and Africa.

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