6,000 Shares in General Electric (NYSE:GE) Acquired by WT Asset Management Ltd

WT Asset Management Ltd bought a new stake in General Electric (NYSE:GE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,000 shares of the conglomerate’s stock, valued at approximately $1,131,000. General Electric makes up 0.2% of WT Asset Management Ltd’s holdings, making the stock its 23rd biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mackenzie Financial Corp lifted its stake in shares of General Electric by 10.5% in the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after purchasing an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC purchased a new stake in General Electric in the second quarter valued at approximately $1,569,000. GAMMA Investing LLC lifted its stake in General Electric by 25.4% during the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after purchasing an additional 3,442 shares in the last quarter. Senator Investment Group LP purchased a new position in shares of General Electric during the second quarter worth $34,973,000. Finally, Blair William & Co. IL raised its holdings in shares of General Electric by 4.4% in the 2nd quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after buying an additional 7,670 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup raised their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. UBS Group boosted their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein increased their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Performance

Shares of GE stock traded up $2.88 during mid-day trading on Friday, hitting $174.66. 1,065,095 shares of the stock were exchanged, compared to its average volume of 6,315,175. The stock’s fifty day simple moving average is $180.18 and its two-hundred day simple moving average is $168.89. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a 12-month low of $85.89 and a 12-month high of $194.80. The stock has a market capitalization of $189.03 billion, a price-to-earnings ratio of 30.76, a P/E/G ratio of 1.72 and a beta of 1.18.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 earnings per share. On average, analysts forecast that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. General Electric’s payout ratio is 19.68%.

About General Electric

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.