ORG Partners LLC Boosts Stake in General Electric (NYSE:GE)

ORG Partners LLC grew its stake in General Electric (NYSE:GE) by 554.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,976 shares of the conglomerate’s stock after buying an additional 1,674 shares during the period. ORG Partners LLC’s holdings in General Electric were worth $314,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. NewEdge Wealth LLC raised its holdings in shares of General Electric by 2.9% during the fourth quarter. NewEdge Wealth LLC now owns 6,775 shares of the conglomerate’s stock worth $865,000 after purchasing an additional 192 shares during the last quarter. Cullen Investment Group LTD. purchased a new position in shares of General Electric during the fourth quarter worth $607,000. Keel Point LLC raised its holdings in shares of General Electric by 9.3% during the fourth quarter. Keel Point LLC now owns 2,810 shares of the conglomerate’s stock worth $359,000 after purchasing an additional 239 shares during the last quarter. Capital Analysts LLC raised its holdings in shares of General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares during the last quarter. Finally, Flputnam Investment Management Co. raised its holdings in shares of General Electric by 8.3% during the fourth quarter. Flputnam Investment Management Co. now owns 10,489 shares of the conglomerate’s stock worth $1,339,000 after purchasing an additional 801 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of several recent research reports. Wells Fargo & Company raised their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Bank of America lifted their price objective on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada lifted their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. UBS Group lifted their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Finally, Argus lifted their price objective on shares of General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $190.38.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is currently owned by company insiders.

General Electric Price Performance

GE traded down $0.01 on Wednesday, reaching $167.95. 4,446,203 shares of the company’s stock were exchanged, compared to its average volume of 6,976,904. The stock has a market cap of $183.84 billion, a PE ratio of 54.81, a P/E/G ratio of 1.70 and a beta of 1.21. General Electric has a twelve month low of $84.42 and a twelve month high of $177.20. The stock’s fifty day moving average price is $162.80 and its 200-day moving average price is $159.73. 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 posted its quarterly earnings results 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 firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 earnings per share. Sell-side analysts expect that General Electric will post 4.15 EPS for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given 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 0.67%. General Electric’s payout ratio is presently 36.72%.

General Electric 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.