Claro Advisors LLC Increases Stock Position in General Electric (NYSE:GE)

Claro Advisors LLC increased its position in shares of General Electric (NYSE:GE) by 48.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,275 shares of the conglomerate’s stock after purchasing an additional 2,051 shares during the quarter. Claro Advisors LLC’s holdings in General Electric were worth $1,183,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GE. Capital International Investors grew its holdings in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares in the last quarter. Newport Trust Company LLC bought a new position in General Electric in the 2nd quarter valued at $2,613,332,000. Capital World Investors increased its position in shares of General Electric by 2,818.1% during 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. Legal & General Group Plc raised its stake in shares of General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after purchasing an additional 459,201 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings 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 worth $1,250,079,000 after buying an additional 4,907,530 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GE has been the subject of a number of research analyst reports. Barclays raised their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada upped their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Citigroup increased their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, UBS Group lifted their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average price target of $196.86.

General Electric Price Performance

GE stock opened at $192.51 on Friday. The firm has a 50 day moving average of $178.51 and a 200-day moving average of $167.21. The firm has a market capitalization of $210.72 billion, a P/E ratio of 63.12, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. General Electric has a 12 month low of $84.42 and a 12 month 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 announced 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 firm had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. As a group, sell-side analysts predict that General Electric will post 4.2 earnings per share for the current fiscal 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 paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. General Electric’s dividend payout ratio is currently 36.72%.

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.