Perpetual Ltd Grows Position in General Electric (NYSE:GE)

Perpetual Ltd boosted its stake in shares of General Electric (NYSE:GE) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,880 shares of the conglomerate’s stock after purchasing an additional 134 shares during the period. Perpetual Ltd’s holdings in General Electric were worth $2,617,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mackenzie Financial Corp boosted its holdings in General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after acquiring an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC purchased a new stake in shares of General Electric during the 2nd quarter worth about $1,569,000. Vanguard Group Inc. increased its position in General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after purchasing an additional 550,996 shares in the last quarter. GAMMA Investing LLC raised its holdings in General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after buying an additional 3,442 shares during the period. Finally, Senator Investment Group LP purchased a new stake in General Electric during the second quarter worth approximately $34,973,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE GE opened at $188.12 on Friday. The stock has a market cap of $203.98 billion, a P/E ratio of 44.58, a P/E/G ratio of 1.86 and a beta of 1.18. 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’s 50-day simple moving average is $174.62 and its 200 day simple moving average is $166.37. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $190.88.

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

General Electric Dividend Announcement

The business 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. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.60%. General Electric’s dividend payout ratio (DPR) is presently 26.54%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GE shares. Barclays lifted their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Citigroup upped their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group raised their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $195.14.

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.