First Trust Advisors LP Acquires 23,165 Shares of General Electric (NYSE:GE)

First Trust Advisors LP boosted its holdings in General Electric (NYSE:GE – Get Rating) by 16.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 163,991 shares of the conglomerate’s stock after acquiring an additional 23,165 shares during the period. First Trust Advisors LP’s holdings in General Electric were worth $10,153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Macquarie Group Ltd. lifted its stake in shares of General Electric by 3.2% during the 3rd quarter. Macquarie Group Ltd. now owns 48,555 shares of the conglomerate’s stock worth $3,006,000 after buying an additional 1,493 shares during the last quarter. Utah Retirement Systems lifted its position in General Electric by 0.3% during the second quarter. Utah Retirement Systems now owns 195,399 shares of the conglomerate’s stock worth $12,441,000 after acquiring an additional 500 shares during the last quarter. PFS Investments Inc. boosted its holdings in shares of General Electric by 17.2% during the second quarter. PFS Investments Inc. now owns 3,571 shares of the conglomerate’s stock worth $227,000 after acquiring an additional 523 shares during the period. GHP Investment Advisors Inc. grew its position in shares of General Electric by 25.8% in the third quarter. GHP Investment Advisors Inc. now owns 1,159 shares of the conglomerate’s stock valued at $72,000 after purchasing an additional 238 shares during the last quarter. Finally, Ballentine Partners LLC grew its position in shares of General Electric by 16.5% in the third quarter. Ballentine Partners LLC now owns 12,231 shares of the conglomerate’s stock valued at $757,000 after purchasing an additional 1,730 shares during the last quarter. Institutional investors and hedge funds own 70.12% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada boosted their price target on General Electric from $93.00 to $100.00 in a research note on Friday. Bank of America upped their price target on shares of General Electric from $92.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, March 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Electric from $89.00 to $94.00 in a research note on Monday, December 5th. Wells Fargo & Company decreased their target price on shares of General Electric from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 25th. Finally, Citigroup raised their target price on shares of General Electric from $87.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, December 9th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average target price of $91.86.

General Electric Trading Down 0.6 %

Shares of GE stock opened at $91.00 on Monday. General Electric has a fifty-two week low of $46.55 and a fifty-two week high of $94.94. The stock’s fifty day moving average price is $81.72 and its two-hundred day moving average price is $78.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 1.16. The company has a market cap of $99.13 billion, a PE ratio of -3,033.33, a P/E/G ratio of 6.67 and a beta of 1.25.

General Electric (NYSE:GE – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The conglomerate reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.13. General Electric had a return on equity of 8.47% and a net margin of 0.29%. The business had revenue of $21.79 billion for the quarter, compared to analyst estimates of $22.11 billion. During the same period last year, the firm posted $0.92 earnings per share. General Electric’s revenue was up 7.3% compared to the same quarter last year. Equities analysts predict that General Electric will post 1.95 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Tuesday, March 7th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Tuesday, March 6th. General Electric’s dividend payout ratio (DPR) is presently -1,066.67%.

General Electric Company Profile

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General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.