HB Wealth Management LLC Acquires 2,711 Shares of General Electric (NYSE:GE)

HB Wealth Management LLC lifted its stake in shares of General Electric (NYSE:GE - Free Report) by 17.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,648 shares of the conglomerate's stock after purchasing an additional 2,711 shares during the period. HB Wealth Management LLC's holdings in General Electric were worth $2,965,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MFA Wealth Advisors LLC acquired a new position in shares of General Electric during the 2nd quarter worth approximately $31,000. Kapitalo Investimentos Ltda acquired a new position in shares of General Electric during the 4th quarter worth approximately $32,000. Financial Connections Group Inc. acquired a new position in shares of General Electric during the 2nd quarter worth approximately $32,000. Richardson Financial Services Inc. acquired a new position in shares of General Electric during the 1st quarter worth approximately $34,000. Finally, Macroview Investment Management LLC increased its holdings in shares of General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate's stock worth $34,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

General Electric Price Performance

Shares of GE traded up $1.72 during trading hours on Thursday, hitting $173.59. 4,261,426 shares of the company were exchanged, compared to its average volume of 6,765,663. The company has a market cap of $190.01 billion, a price-to-earnings ratio of 56.91, a P/E/G ratio of 1.70 and a beta of 1.21. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $177.20. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The firm's fifty day moving average is $164.81 and its 200 day moving average is $162.20.

General Electric (NYSE:GE - Get Free Report) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period in the prior year, the firm posted $0.68 EPS. General Electric's quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts anticipate that General Electric will post 4.15 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed 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 was Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. General Electric's dividend payout ratio is currently 36.72%.

Analysts Set New Price Targets

GE has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their target price on General Electric from $175.00 to $190.00 and gave the stock an "outperform" rating in a report on Wednesday, July 24th. Barclays boosted their target price on General Electric from $175.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, July 30th. Jefferies Financial Group upped their price objective on General Electric from $185.00 to $190.00 and gave the company a "buy" rating in a report on Friday, June 28th. StockNews.com lowered General Electric from a "buy" rating to a "hold" rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. upped their price objective on General Electric from $148.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, General Electric currently has an average rating of "Moderate Buy" and an average target price of $190.38.

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.