Souders Financial Advisors Purchases 18,732 Shares of General Electric (NYSE:GE)

Souders Financial Advisors raised its stake in General Electric (NYSE:GE) by 725.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,314 shares of the conglomerate’s stock after purchasing an additional 18,732 shares during the period. Souders Financial Advisors’ holdings in General Electric were worth $3,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the business. Mackenzie Financial Corp raised its stake in General Electric by 10.5% in the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after purchasing an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC purchased a new stake in General Electric during the 2nd quarter valued at about $1,569,000. Vanguard Group Inc. grew its stake in General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after acquiring an additional 550,996 shares in the last quarter. GAMMA Investing LLC grew its stake in General Electric by 25.4% during the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after acquiring an additional 3,442 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in General Electric by 4.4% during the 2nd quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after acquiring an additional 7,670 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE GE opened at $188.51 on Tuesday. 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 $190.88. The company has a market capitalization of $206.34 billion, a price-to-earnings ratio of 61.81, a PEG ratio of 1.87 and a beta of 1.18. The firm has a 50-day moving average of $172.02 and a two-hundred day moving average of $169.63.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $8.44 billion. During the same quarter in the prior year, the company earned $0.68 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.59%. General Electric’s dividend payout ratio is currently 36.72%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GE shares. Wells Fargo & Company boosted their target price 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. Jefferies Financial Group boosted their target price 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. UBS Group upped their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Royal Bank of Canada upped their price objective on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Barclays upped their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.36.

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.