Transcend Capital Advisors LLC Grows Stock Holdings in General Electric (NYSE:GE)

Transcend Capital Advisors LLC raised its position in General Electric (NYSE:GEGet Rating) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,948 shares of the conglomerate’s stock after purchasing an additional 402 shares during the period. Transcend Capital Advisors LLC’s holdings in General Electric were worth $697,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GE. Tcwp LLC bought a new position in General Electric in the 1st quarter valued at $28,000. Covestor Ltd bought a new position in General Electric in the 4th quarter valued at $31,000. Global Wealth Management Investment Advisory Inc. boosted its holdings in General Electric by 808.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 299 shares during the period. Marshall & Sullivan Inc. WA bought a new position in General Electric in the 2nd quarter valued at $34,000. Finally, Core Alternative Capital boosted its holdings in General Electric by 736.2% in the 1st quarter. Core Alternative Capital now owns 393 shares of the conglomerate’s stock valued at $36,000 after purchasing an additional 346 shares during the period. 67.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on GE. The Goldman Sachs Group cut their price target on shares of General Electric from $108.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, June 23rd. Sanford C. Bernstein initiated coverage on shares of General Electric in a report on Tuesday, August 16th. They set an “outperform” rating and a $100.00 price objective for the company. UBS Group dropped their price objective on shares of General Electric from $113.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, August 4th. Wells Fargo & Company lifted their price objective on shares of General Electric to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Finally, Morgan Stanley dropped their price objective on shares of General Electric from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.15.

General Electric Stock Performance

Shares of NYSE:GE opened at $66.59 on Wednesday. The company’s fifty day moving average is $72.69 and its 200 day moving average is $77.39. General Electric has a 52 week low of $59.93 and a 52 week high of $116.17. The company has a current ratio of 1.13, a quick ratio of 0.80 and a debt-to-equity ratio of 0.77.

General Electric (NYSE:GEGet Rating) last issued its earnings results on Tuesday, July 26th. The conglomerate reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.40. The company had revenue of $18.65 billion for the quarter, compared to analysts’ expectations of $17.90 billion. General Electric had a negative net margin of 5.94% and a positive return on equity of 7.50%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 EPS. As a group, equities research analysts predict that General Electric will post 2.74 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Tuesday, September 27th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, September 26th. General Electric’s payout ratio is -7.55%.

About General Electric

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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

Further Reading

Institutional Ownership by Quarter for General Electric (NYSE:GE)

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