Total Clarity Wealth Management Inc. Buys 408 Shares of General Electric (NYSE:GE)

Total Clarity Wealth Management Inc. lifted its stake in General Electric (NYSE:GE) by 31.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,700 shares of the conglomerate’s stock after acquiring an additional 408 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in General Electric were worth $270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors increased its position in shares of General Electric by 2,818.1% during 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 during the last quarter. Capital International Investors grew its stake in shares of General Electric by 9.9% in the first 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. Canada Pension Plan Investment Board increased its holdings in General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after buying an additional 4,907,530 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in General Electric during the second quarter worth $580,200,000. Finally, Evergreen Quality Fund GP Ltd. acquired a new stake in General Electric in the first quarter valued at $385,745,000. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GE. Wells Fargo & Company upped 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. Royal Bank of Canada upped 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. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Barclays increased their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Sanford C. Bernstein assumed coverage on shares of General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective for the company. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Trading Up 1.8 %

Shares of General Electric stock opened at $181.46 on Tuesday. 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 firm has a 50-day moving average of $166.93 and a 200-day moving average of $171.00. General Electric has a 52-week low of $84.42 and a 52-week high of $181.52. The stock has a market cap of $198.63 billion, a PE ratio of 59.50, a PEG ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $8.44 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, sell-side analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

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 of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

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.