Federated Hermes Inc. Raises Stock Holdings in General Electric (NYSE:GE)

Federated Hermes Inc. boosted its stake in General Electric (NYSE:GE) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 793,087 shares of the conglomerate’s stock after purchasing an additional 15,133 shares during the quarter. Federated Hermes Inc. owned about 0.07% of General Electric worth $126,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of GE. Vanguard Group Inc. lifted its holdings in shares of General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after acquiring an additional 550,996 shares during the last quarter. Capital International Investors raised its position in General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares in the last quarter. Capital World Investors boosted its holdings in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares in the last quarter. Norges Bank bought a new position in shares of 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% during 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 buying an additional 4,907,530 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Trading Up 2.0 %

NYSE GE opened at $169.70 on Friday. The stock has a market cap of $184.01 billion, a P/E ratio of 55.64, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $177.20. The stock has a 50 day simple moving average of $166.22 and a two-hundred day simple moving average of $171.53. 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 announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS 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 analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. On average, analysts forecast that General Electric will post 4.2 earnings per share for the current 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 given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GE. Wells Fargo & Company upped their target price on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their target price 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. UBS Group boosted their price target on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Royal Bank of Canada raised their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group boosted their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average price target of $191.14.

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.