AlphaStar Capital Management LLC Raises Stake in General Electric (NYSE:GE)

AlphaStar Capital Management LLC raised its stake in shares of General Electric (NYSE:GE) by 54.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,926 shares of the conglomerate’s stock after buying an additional 1,030 shares during the quarter. AlphaStar Capital Management LLC’s holdings in General Electric were worth $465,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric in the second quarter worth $31,000. Richardson Financial Services Inc. bought a new position in shares of General Electric in the 1st quarter worth $34,000. ANTIPODES PARTNERS Ltd bought a new position in shares of General Electric in the 1st quarter worth $37,000. Macroview Investment Management LLC lifted its holdings in shares of General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. Finally, Horrell Capital Management Inc. purchased a new position in shares of General Electric in the 1st quarter worth about $44,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of NYSE GE traded down $0.77 during trading on Tuesday, hitting $170.45. The company had a trading volume of 1,051,796 shares, compared to its average volume of 6,780,447. The firm has a market capitalization of $186.58 billion, a P/E ratio of 56.04, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21. General Electric has a 12 month low of $84.42 and a 12 month high of $177.20. The stock has a 50 day simple moving average of $164.55 and a 200 day simple moving average of $161.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last issued its earnings results 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. 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 during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. General Electric’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, analysts anticipate that General Electric will post 4.15 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Wall Street Analyst Weigh In

Several research firms have commented on GE. Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company boosted their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Jefferies Financial Group boosted their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, UBS Group raised their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $190.38.

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.