General Electric (NYSE:GE) Shares Acquired by Ballentine Partners LLC

Ballentine Partners LLC lifted its holdings in General Electric (NYSE:GE) by 6.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,298 shares of the conglomerate’s stock after purchasing an additional 1,049 shares during the quarter. Ballentine Partners LLC’s holdings in General Electric were worth $2,750,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after acquiring an additional 550,996 shares in the last quarter. Capital International Investors raised its position in shares of General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Capital World Investors raised its position in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Norges Bank acquired a new stake in General Electric in the 4th quarter worth approximately $1,193,159,000. Finally, Canada Pension Plan Investment Board grew its position in General Electric by 221.6% during 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 during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Royal Bank of Canada boosted their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Finally, Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $190.38.

General Electric Stock Performance

Shares of NYSE GE traded down $2.62 during midday trading on Friday, reaching $161.23. 3,954,854 shares of the stock were exchanged, compared to its average volume of 6,700,422. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The firm has a market cap of $176.48 billion, a price-to-earnings ratio of 52.86, a PEG ratio of 1.73 and a beta of 1.18. The firm has a 50-day simple moving average of $165.78 and a two-hundred day simple moving average of $163.28. General Electric has a twelve month low of $84.42 and a twelve month high of $177.20.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business earned $0.68 earnings per share. As a group, analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. General Electric’s dividend payout ratio is currently 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.