General Electric (NYSE:GE) is Western Financial Corp CA’s 8th Largest Position

Western Financial Corp CA raised its position in shares of General Electric (NYSE:GE) by 13.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,527 shares of the conglomerate’s stock after buying an additional 1,672 shares during the period. General Electric comprises about 1.6% of Western Financial Corp CA’s holdings, making the stock its 8th largest holding. Western Financial Corp CA’s holdings in General Electric were worth $2,740,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors raised its stake in General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after acquiring an additional 5,309,543 shares in the last quarter. Newport Trust Company LLC acquired a new position in shares of General Electric in the second quarter valued at approximately $2,613,332,000. Capital World Investors raised its position in General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares during the last quarter. Legal & General Group Plc increased its stake in shares of General Electric by 5.8% during the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after acquiring an additional 459,201 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in 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 purchasing an additional 4,907,530 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE stock traded up $0.13 on Monday, hitting $192.74. 2,880,055 shares of the stock traded hands, compared to its average volume of 6,317,074. General Electric has a 1-year low of $84.58 and a 1-year 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 company has a market capitalization of $210.97 billion, a PE ratio of 63.31, a PEG ratio of 1.86 and a beta of 1.18. The company’s fifty day moving average is $178.51 and its 200 day moving average is $167.58.

General Electric (NYSE:GE) last announced its quarterly 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. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. During the same quarter in the previous year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised 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. Barclays upped their price objective 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. Citigroup increased their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. UBS Group increased their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Finally, Sanford C. Bernstein increased their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $196.86.

General Electric 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.