ORG Wealth Partners LLC purchased a new stake in shares of General Electric (NYSE:GE – Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 654 shares of the conglomerate’s stock, valued at approximately $123,000.
Other large investors also recently bought and sold shares of the company. Newport Trust Company LLC bought a new position in shares of General Electric in the second quarter worth approximately $2,613,332,000. Capital World Investors lifted its stake in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Capital International Investors lifted 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 worth $10,373,936,000 after buying an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of General Electric by 221.6% in 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of General Electric in the second quarter worth approximately $580,200,000. 74.77% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on GE shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. UBS Group increased their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Royal Bank of Canada increased their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Citigroup upped their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Barclays upped their target price 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. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $196.86.
General Electric Stock Performance
Shares of NYSE GE opened at $192.63 on Tuesday. The stock has a market cap of $210.85 billion, a PE ratio of 63.16, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The firm has a fifty day moving average price of $176.30 and a 200-day moving average price of $166.63. General Electric has a 1 year low of $84.42 and a 1 year high of $193.93. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.
General Electric (NYSE:GE – Get Free Report) last issued its quarterly earnings data 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 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 business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 earnings per share. Equities analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.
General Electric Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given 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 dividend yield of 0.58%. General Electric’s payout ratio is 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.
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