Global Assets Advisory LLC Has $1.62 Million Stock Holdings in General Electric (NYSE:GE)

Global Assets Advisory LLC increased its stake in shares of General Electric (NYSE:GE) by 94.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,704 shares of the conglomerate’s stock after purchasing an additional 4,227 shares during the quarter. General Electric makes up about 0.8% of Global Assets Advisory LLC’s portfolio, making the stock its 26th largest holding. Global Assets Advisory LLC’s holdings in General Electric were worth $1,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp increased its position in General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after purchasing an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC acquired a new position in General Electric in the 2nd quarter valued at approximately $1,569,000. GAMMA Investing LLC increased its position in General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after acquiring an additional 3,442 shares during the period. Senator Investment Group LP acquired a new position in General Electric in the 2nd quarter valued at approximately $34,973,000. Finally, Blair William & Co. IL increased its position in 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 acquiring an additional 7,670 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GE has been the subject of several recent research reports. Royal Bank of Canada decreased their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday. Wells Fargo & Company upped their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday. Sanford C. Bernstein upped their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Melius Research upped their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Up 2.9 %

Shares of NYSE GE opened at $181.78 on Thursday. The firm has a market cap of $198.98 billion, a PE ratio of 59.60, a P/E/G ratio of 1.86 and a beta of 1.18. General Electric has a 12-month low of $84.58 and a 12-month high of $194.80. The company’s fifty day simple moving average is $179.51 and its 200 day simple moving average is $168.15. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period last year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts forecast that General Electric will post 4.2 earnings per share 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. Stockholders of record on Thursday, September 26th will be issued a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric’s dividend payout ratio is currently 36.72%.

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.