Adell Harriman & Carpenter Inc. Purchases 141 Shares of General Electric (NYSE:GE)

Adell Harriman & Carpenter Inc. increased its position in General Electric (NYSE:GE) by 12.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,293 shares of the conglomerate’s stock after purchasing an additional 141 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in General Electric were worth $206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. MFA Wealth Advisors LLC purchased a new stake in General Electric during the second quarter worth $31,000. Richardson Financial Services Inc. purchased a new stake in shares of General Electric during the 1st quarter valued at $34,000. Financial Connections Group Inc. purchased a new stake in shares of General Electric during the 2nd quarter valued at $32,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of General Electric during the 1st quarter valued at $37,000. Finally, 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 valued at $34,000 after purchasing an additional 58 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on GE shares. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada upped their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Wells Fargo & Company upped their target price on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, UBS Group increased their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $190.38.

General Electric Price Performance

NYSE:GE opened at $164.28 on Wednesday. General Electric has a 52 week low of $84.42 and a 52 week high of $177.20. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $178.13 billion, a PE ratio of 53.86, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21. The stock’s 50-day moving average price is $165.56 and its 200-day moving average price is $163.07.

General Electric (NYSE:GE) last issued its quarterly 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. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS. As a group, equities analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio is presently 36.72%.

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.