Rhumbline Advisers Buys 86,881 Shares of General Electric (NYSE:GE)

Rhumbline Advisers increased its holdings in shares of General Electric (NYSE:GE - Free Report) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,893,237 shares of the conglomerate's stock after purchasing an additional 86,881 shares during the period. Rhumbline Advisers owned 0.17% of General Electric worth $300,968,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. USA Financial Formulas increased its holdings in shares of General Electric by 24,042.9% in the 4th quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate's stock valued at $1,294,000 after purchasing an additional 10,098 shares in the last quarter. Rathbones Group PLC increased its holdings in shares of General Electric by 2.7% in the 4th quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate's stock valued at $28,821,000 after purchasing an additional 5,997 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of General Electric by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate's stock valued at $534,123,000 after purchasing an additional 318,245 shares in the last quarter. Vanguard Group Inc. increased its holdings 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. Finally, Nomura Asset Management Co. Ltd. increased its holdings 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. Institutional investors and hedge funds own 74.77% of the company's stock.

General Electric Stock Performance

General Electric stock traded down $10.34 during mid-day trading on Tuesday, reaching $164.28. The company's stock had a trading volume of 6,098,767 shares, compared to its average volume of 6,752,983. The firm has a market cap of $178.13 billion, a price-to-earnings ratio of 53.86, a PEG ratio of 1.73 and a beta of 1.21. The business has a 50 day moving average price of $165.56 and a 200-day moving average price of $163.07. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a twelve month low of $84.42 and a twelve month high of $177.20.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company's revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts predict that General Electric will post 4.2 EPS for the current fiscal 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. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date was Thursday, July 11th. General Electric's payout ratio is currently 36.72%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GE shares. UBS Group raised their price target on shares of General Electric from $201.00 to $209.00 and gave the stock a "buy" rating in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft raised their price target on shares of General Electric from $195.00 to $209.00 and gave the stock a "buy" rating in a research note on Monday, June 10th. JPMorgan Chase & Co. raised their price target 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. Royal Bank of Canada raised their price target on shares of General Electric from $175.00 to $190.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 24th. Finally, 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 research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus 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.