American Planning Services Inc. Buys New Stake in General Electric (NYSE:GE)

American Planning Services Inc. purchased a new position in shares of General Electric (NYSE:GE) in the second quarter, HoldingsChannel reports. The institutional investor purchased 8,222 shares of the conglomerate’s stock, valued at approximately $1,307,000. General Electric accounts for 0.9% of American Planning Services Inc.’s investment portfolio, making the stock its 23rd biggest holding.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Rathbones Group PLC lifted its position in shares of General Electric by 2.7% during the 4th quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock worth $28,821,000 after buying an additional 5,997 shares during the period. Vanguard Group Inc. boosted its stake in shares of General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after purchasing an additional 550,996 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of General Electric by 3.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 288,224 shares of the conglomerate’s stock valued at $36,786,000 after purchasing an additional 8,788 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after purchasing an additional 3,442 shares during the last quarter. Finally, Makena Capital Management LLC increased its position in shares of General Electric by 26.2% during the 4th quarter. Makena Capital Management LLC now owns 149,855 shares of the conglomerate’s stock worth $19,126,000 after purchasing an additional 31,107 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Up 5.1 %

Shares of NYSE GE opened at $178.28 on Monday. 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 has a market capitalization of $195.15 billion, a PE ratio of 58.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The firm’s 50-day moving average is $166.57 and its 200-day moving average is $171.10. General Electric has a 1 year low of $84.42 and a 1 year high of $179.32.

General Electric (NYSE:GE) last announced 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 firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. Equities analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were issued a $0.28 dividend. The ex-dividend date was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio is presently 36.72%.

Analyst Ratings Changes

GE has been the topic of several research analyst reports. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Jefferies Financial Group increased their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Sanford C. Bernstein initiated coverage on General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price on the stock. Finally, Royal Bank of Canada lifted their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.14.

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.