Gateway Advisory LLC raised its stake in General Electric (NYSE:GE – Free Report) by 13.8% during the second quarter, Holdings Channel.com reports. The firm owned 10,088 shares of the conglomerate’s stock after purchasing an additional 1,224 shares during the quarter. Gateway Advisory LLC’s holdings in General Electric were worth $1,108,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its holdings in General Electric by 5.7% during the 1st quarter. FMR LLC now owns 63,795,835 shares of the conglomerate’s stock worth $6,098,882,000 after acquiring an additional 3,463,502 shares in the last quarter. State Street Corp lifted its position in shares of General Electric by 17.3% during the 1st quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock worth $4,639,533,000 after purchasing an additional 7,157,356 shares during the last quarter. TCI Fund Management Ltd. acquired a new position in shares of General Electric during the first quarter worth $2,496,379,000. Geode Capital Management LLC increased its holdings in General Electric by 1.7% in the first quarter. Geode Capital Management LLC now owns 19,272,027 shares of the conglomerate’s stock valued at $1,837,514,000 after buying an additional 319,196 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC raised its stake in General Electric by 122,242.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock valued at $878,644,000 after buying an additional 13,427,079 shares in the last quarter. Hedge funds and other institutional investors own 74.83% of the company’s stock.
Analyst Upgrades and Downgrades
GE has been the subject of several analyst reports. Argus upped their price objective on General Electric from $112.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Oppenheimer lowered shares of General Electric from an “outperform” rating to a “market perform” rating in a research note on Monday, July 31st. Barclays upped their target price on shares of General Electric from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 25th. Royal Bank of Canada increased their target price on shares of General Electric from $130.00 to $131.00 and gave the company an “outperform” rating in a research report on Wednesday, October 25th. Finally, Citigroup boosted their price target on shares of General Electric from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.93.
General Electric Stock Performance
Shares of GE stock traded up $0.99 during midday trading on Friday, hitting $119.93. The company had a trading volume of 4,139,400 shares, compared to its average volume of 5,910,168. The stock has a market cap of $130.53 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 3.28 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.17 and a quick ratio of 0.82. The company’s 50 day simple moving average is $111.70 and its 200 day simple moving average is $109.52. General Electric has a 52-week low of $59.57 and a 52-week high of $120.08.
General Electric (NYSE:GE – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The firm had revenue of $17.35 billion for the quarter, compared to analyst estimates of $15.46 billion. General Electric had a net margin of 14.38% and a return on equity of 11.10%. General Electric’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period last year, the firm posted $0.35 EPS. Research analysts anticipate that General Electric will post 2.65 earnings per share for the current fiscal year.
General Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Tuesday, September 26th were given a $0.08 dividend. The ex-dividend date was Monday, September 25th. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. General Electric’s payout ratio is currently 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.
- Five stocks we like better than General Electric
- What are stock market earnings reports?
- S&P 500’s Whirlwind: Big gains, warning whispers & tactical moves
- How to Choose Top Rated Stocks
- MarketBeat Week in Review – 11/13 – 11/17
- Bank Stocks – Best Bank Stocks to Invest In
- 3 large caps with red hot RSIs with upside
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.