Lyell Wealth Management LP Buys 100 Shares of General Electric (NYSE:GE)

Lyell Wealth Management LP boosted its holdings in shares of General Electric (NYSE:GE) by 7.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,525 shares of the conglomerate’s stock after acquiring an additional 100 shares during the period. Lyell Wealth Management LP’s holdings in General Electric were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Aveo Capital Partners LLC bought a new position in General Electric during the 4th quarter worth about $203,000. Gryphon Financial Partners LLC boosted its holdings in shares of General Electric by 57.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock valued at $1,526,000 after buying an additional 4,354 shares in the last quarter. Jump Financial LLC bought a new stake in shares of General Electric in the 4th quarter valued at about $477,000. Independent Advisor Alliance boosted its holdings in shares of General Electric by 28.6% in the 4th quarter. Independent Advisor Alliance now owns 18,725 shares of the conglomerate’s stock valued at $2,390,000 after buying an additional 4,169 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of General Electric in the 4th quarter valued at about $1,193,159,000. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target 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. Sanford C. Bernstein initiated coverage on shares of General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price target on the stock. Jefferies Financial Group raised their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company raised their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Stock Performance

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 P/E/G ratio of 1.65 and a beta of 1.18. The firm has a 50 day moving average of $166.57 and a two-hundred day moving average of $171.10. General Electric has a 12-month low of $84.42 and a 12-month high of $179.32.

General Electric (NYSE:GE) last released its quarterly earnings results 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. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter last year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.28 dividend. 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 0.63%. General Electric’s payout ratio is 36.72%.

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.