Dimensional Fund Advisors LP raised its holdings in General Electric (NYSE:GE – Free Report) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,838,834 shares of the conglomerate’s stock after buying an additional 62,286 shares during the period. Dimensional Fund Advisors LP owned about 0.35% of General Electric worth $421,632,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Steward Financial Group LLC acquired a new position in shares of General Electric in the 2nd quarter valued at $26,000. Global Wealth Management Investment Advisory Inc. lifted its position in General Electric by 808.1% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 299 shares during the last quarter. Syverson Strege & Co lifted its position in General Electric by 53.6% in the first quarter. Syverson Strege & Co now owns 338 shares of the conglomerate’s stock valued at $32,000 after acquiring an additional 118 shares during the last quarter. Motco boosted its stake in General Electric by 143.0% in the second quarter. Motco now owns 294 shares of the conglomerate’s stock valued at $32,000 after acquiring an additional 173 shares in the last quarter. Finally, Financial Freedom LLC purchased a new position in shares of General Electric during the fourth quarter worth about $32,000. 74.83% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. Argus boosted their target price on General Electric from $112.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Oppenheimer downgraded General Electric from an “outperform” rating to a “market perform” rating in a report on Monday, July 31st. The Goldman Sachs Group lifted their target price on shares of General Electric from $121.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of General Electric in a research report on Wednesday, September 27th. They issued a “buy” rating and a $141.00 price target for the company. Finally, TheStreet downgraded shares of General Electric from a “b-” rating to a “c” rating in a research report on Tuesday, October 24th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus target price of $122.93.
General Electric Price Performance
Shares of GE opened at $117.25 on Wednesday. The firm has a market capitalization of $127.61 billion, a PE ratio of 13.22, a P/E/G ratio of 3.26 and a beta of 1.26. The stock’s 50 day moving average is $111.32 and its two-hundred day moving average is $109.22. General Electric has a twelve month low of $59.57 and a twelve month high of $117.96. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.65.
General Electric (NYSE:GE – Get Free Report) last announced its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. General Electric had a return on equity of 11.10% and a net margin of 14.38%. The firm had revenue of $17.35 billion for the quarter, compared to analyst estimates of $15.46 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. General Electric’s quarterly revenue was up 19.9% on a year-over-year basis. Research analysts anticipate that General Electric will post 2.65 earnings per share for the current year.
General Electric Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Tuesday, September 26th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Monday, September 25th. General Electric’s dividend payout ratio (DPR) is 3.61%.
About General Electric
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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