Kimelman & Baird LLC Acquires Shares of 12,749 General Electric (NYSE:GE)

Kimelman & Baird LLC acquired a new position in shares of General Electric (NYSE:GE) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 12,749 shares of the conglomerate’s stock, valued at approximately $2,027,000.

Several other large investors have also recently bought and sold shares of GE. William B. Walkup & Associates Inc. purchased a new position in General Electric in the second quarter valued at approximately $196,000. Sunbelt Securities Inc. grew its position in shares of General Electric by 11.5% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,193 shares of the conglomerate’s stock valued at $190,000 after buying an additional 123 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in General Electric by 4.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 66,953 shares of the conglomerate’s stock worth $10,644,000 after acquiring an additional 3,086 shares in the last quarter. NewEdge Advisors LLC lifted its position in General Electric by 20.4% in the second quarter. NewEdge Advisors LLC now owns 65,517 shares of the conglomerate’s stock valued at $10,415,000 after acquiring an additional 11,082 shares during the last quarter. Finally, Silver Lake Advisory LLC acquired a new position in General Electric in the second quarter valued at $331,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 0.4 %

Shares of GE opened at $185.38 on Monday. The firm’s 50-day moving average is $171.51 and its two-hundred day moving average is $169.77. General Electric has a twelve month low of $84.42 and a twelve month high of $190.88. 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 $202.92 billion, a P/E ratio of 60.78, a PEG ratio of 1.87 and a beta of 1.18.

General Electric (NYSE:GE) 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 for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, research analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is currently 36.72%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. 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 target price for the company. Finally, Wells Fargo & Company raised their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $191.36.

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.