Chicago Capital LLC Has $3.60 Million Stake in General Electric (NYSE:GE)

Chicago Capital LLC lifted its position in shares of General Electric (NYSE:GE) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,071 shares of the conglomerate’s stock after buying an additional 432 shares during the period. Chicago Capital LLC’s holdings in General Electric were worth $3,596,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Studio Investment Management LLC boosted its position in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of General Electric in the second quarter worth $31,000. Richardson Financial Services Inc. acquired a new position in General Electric during the first quarter worth $34,000. Financial Connections Group Inc. bought a new position in General Electric in the second quarter valued at $32,000. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in General Electric in the 1st quarter valued at $37,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Performance

NYSE:GE opened at $192.61 on Friday. The stock has a 50 day simple moving average of $178.51 and a 200 day simple moving average of $167.42. The stock has a market cap of $210.83 billion, a P/E ratio of 63.15, a PEG ratio of 1.86 and a beta of 1.18. General Electric has a 1-year low of $84.42 and a 1-year high of $194.80. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

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

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. General Electric’s payout ratio is presently 36.72%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GE. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Jefferies Financial Group raised their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. UBS Group boosted their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Wells Fargo & Company increased their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada boosted their target price on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $196.86.

General Electric Company 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.