General Electric (NYSE:GE) Position Boosted by Pachira Investments Inc.

Pachira Investments Inc. lifted its holdings in General Electric (NYSE:GE) by 14.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,707 shares of the conglomerate’s stock after purchasing an additional 218 shares during the quarter. Pachira Investments Inc.’s holdings in General Electric were worth $322,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of GE. Studio Investment Management LLC boosted its stake in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC acquired a new position in General Electric during the second quarter worth about $31,000. Kapitalo Investimentos Ltda acquired a new stake in General Electric in the 4th quarter valued at about $32,000. Financial Connections Group Inc. acquired a new position in shares of General Electric in the 2nd quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in General Electric during the first quarter valued at approximately $34,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Price Performance

Shares of NYSE:GE opened at $192.51 on Friday. 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 stock has a market capitalization of $210.72 billion, a P/E ratio of 63.12, a P/E/G ratio of 1.86 and a beta of 1.18. The business has a 50-day moving average of $178.51 and a two-hundred day moving average of $167.21. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $194.80.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) 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 firm had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The company 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. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is 36.72%.

Analyst Upgrades and Downgrades

GE has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their target price on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays boosted their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group upped their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Two 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.com, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $196.86.

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.