Calamos Wealth Management LLC Grows Position in General Electric (NYSE:GE)

Calamos Wealth Management LLC increased its position in shares of General Electric (NYSE:GE) by 653.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,506 shares of the conglomerate’s stock after purchasing an additional 9,111 shares during the period. Calamos Wealth Management LLC’s holdings in General Electric were worth $1,670,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings 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 buying an additional 550,996 shares in the last quarter. Capital International Investors lifted its holdings in General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares in the last quarter. Capital World Investors lifted its holdings in General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Norges Bank bought a new stake in General Electric during the 4th quarter valued at about $1,193,159,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after purchasing an additional 4,907,530 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GE shares. UBS Group boosted their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Barclays boosted their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company boosted their price objective on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.38.

General Electric Stock Performance

NYSE GE traded up $1.54 during mid-day trading on Friday, reaching $171.22. 4,058,017 shares of the stock were exchanged, compared to its average volume of 6,834,152. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The business’s 50 day moving average is $164.39 and its 200-day moving average is $161.52. The company has a market capitalization of $187.42 billion, a P/E ratio of 56.14, a P/E/G ratio of 1.70 and a beta of 1.21. General Electric has a 1 year low of $84.42 and a 1 year high of $177.20.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. On average, equities research analysts forecast that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio is presently 36.72%.

General Electric Company 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.