Van ECK Associates Corp boosted its holdings in shares of General Electric (NYSE:GE – Get Rating) by 248.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,674 shares of the conglomerate’s stock after acquiring an additional 3,331 shares during the quarter. Van ECK Associates Corp’s holdings in General Electric were worth $289,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Plancorp LLC grew its holdings in General Electric by 1.5% during the 1st quarter. Plancorp LLC now owns 9,628 shares of the conglomerate’s stock worth $881,000 after acquiring an additional 138 shares during the last quarter. Circle Wealth Management LLC grew its holdings in General Electric by 2.6% during the 2nd quarter. Circle Wealth Management LLC now owns 5,611 shares of the conglomerate’s stock worth $357,000 after acquiring an additional 141 shares during the last quarter. Money Concepts Capital Corp grew its holdings in General Electric by 17.0% during the 3rd quarter. Money Concepts Capital Corp now owns 992 shares of the conglomerate’s stock worth $61,000 after acquiring an additional 144 shares during the last quarter. Weaver Consulting Group grew its holdings in General Electric by 3.4% during the 2nd quarter. Weaver Consulting Group now owns 4,765 shares of the conglomerate’s stock worth $303,000 after acquiring an additional 156 shares during the last quarter. Finally, First Manhattan Co. grew its holdings in General Electric by 0.5% during the 1st quarter. First Manhattan Co. now owns 29,506 shares of the conglomerate’s stock worth $2,698,000 after acquiring an additional 159 shares during the last quarter. 70.12% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
GE has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of General Electric from $93.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, December 9th. Barclays reduced their price objective on shares of General Electric from $96.00 to $81.00 and set an “overweight” rating on the stock in a research note on Thursday, January 5th. UBS Group reduced their price objective on shares of General Electric from $98.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, January 12th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $89.00 to $94.00 in a research note on Monday, December 5th. Finally, Morgan Stanley upped their price objective on shares of General Electric from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, October 27th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.58.
General Electric Stock Performance
General Electric (NYSE:GE – Get Rating) last released its quarterly earnings data on Tuesday, October 25th. The conglomerate reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.12). General Electric had a positive return on equity of 7.20% and a negative net margin of 7.78%. The business had revenue of $19.08 billion for the quarter, compared to analyst estimates of $18.77 billion. During the same quarter in the previous year, the company posted $0.57 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts expect that General Electric will post 2.53 EPS for the current fiscal year.
General Electric Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, December 14th. This represents a $0.32 annualized dividend and a yield of 0.40%. General Electric’s payout ratio is -5.79%.
General Electric Profile
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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