QRG Capital Management Inc. Buys 2,478 Shares of General Electric (NYSE:GE)

QRG Capital Management Inc. boosted its stake in General Electric (NYSE:GE) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 264,489 shares of the conglomerate’s stock after acquiring an additional 2,478 shares during the period. QRG Capital Management Inc.’s holdings in General Electric were worth $49,877,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Newport Trust Company LLC bought a new stake in shares of General Electric during the 2nd quarter valued at $2,613,332,000. Capital World Investors boosted its holdings 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 valued at $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Capital International Investors boosted its stake in General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after purchasing an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in General Electric in the 2nd quarter worth about $580,200,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of analyst reports. Melius Research upped their price target on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Sanford C. Bernstein upped their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. UBS Group upped their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada decreased their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their target price on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

NYSE GE opened at $174.60 on Monday. General Electric has a 52 week low of $86.83 and a 52 week high of $194.80. The firm has a market capitalization of $188.97 billion, a P/E ratio of 30.18, a PEG ratio of 1.70 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a 50-day moving average price of $180.20 and a 200-day moving average price of $169.19.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is 19.68%.

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.