Weaver Capital Management LLC Acquires 1,134 Shares of General Electric (NYSE:GE)

Weaver Capital Management LLC grew its position in General Electric (NYSE:GE) by 23.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,918 shares of the conglomerate’s stock after buying an additional 1,134 shares during the quarter. Weaver Capital Management LLC’s holdings in General Electric were worth $1,116,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GE. Newport Trust Company LLC acquired a new position in shares of General Electric in the 2nd quarter valued at approximately $2,613,332,000. 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 buying an additional 12,312,648 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 buying an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of General Electric in the 2nd quarter valued at approximately $580,200,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Trading Down 9.1 %

GE opened at $176.59 on Wednesday. General Electric has a fifty-two week low of $84.58 and a fifty-two week high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The firm has a market capitalization of $193.30 billion, a price-to-earnings ratio of 57.90, a PEG ratio of 1.86 and a beta of 1.18. The company’s 50 day moving average price is $179.24 and its two-hundred day moving average price is $168.05.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the firm posted $0.82 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, research analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Analyst Upgrades and Downgrades

GE has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their target price on shares of General Electric from $190.00 to $210.00 in a research report on Tuesday. Melius Research upped their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday. Barclays upped their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group upped their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $198.53.

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.