Stonegate Investment Group LLC Has $5.90 Million Stock Holdings in General Electric (NYSE:GE)

Stonegate Investment Group LLC decreased its position in shares of General Electric (NYSE:GE) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,290 shares of the conglomerate’s stock after selling 89 shares during the quarter. Stonegate Investment Group LLC’s holdings in General Electric were worth $5,901,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Capital International Investors lifted its holdings 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 buying 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 2nd quarter valued at $2,613,332,000. Capital World Investors boosted its position in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Legal & General Group Plc grew 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 purchasing an additional 459,201 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. 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 note on Friday, June 28th. UBS Group upped their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Royal Bank of Canada upped their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $196.86.

General Electric Stock Down 0.5 %

NYSE GE traded down $0.99 during trading hours on Friday, reaching $191.63. 810,454 shares of the company’s stock were exchanged, compared to its average volume of 6,322,874. The company’s 50-day moving average is $178.01 and its two-hundred day moving average is $167.09. General Electric has a one year low of $84.42 and a one year high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The company has a market capitalization of $209.76 billion, a price-to-earnings ratio of 63.16, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last posted 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 business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the prior year, the business earned $0.68 EPS. General Electric’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend 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.