Macquarie Group Ltd. Acquires 1,493 Shares of General Electric (NYSE:GE)

Macquarie Group Ltd. boosted its holdings in shares of General Electric (NYSE:GE – Get Rating) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,555 shares of the conglomerate’s stock after acquiring an additional 1,493 shares during the period. Macquarie Group Ltd.’s holdings in General Electric were worth $3,006,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GE. Sei Investments Co. lifted its holdings in General Electric by 10.0% during the first quarter. Sei Investments Co. now owns 305,384 shares of the conglomerate’s stock worth $27,925,000 after acquiring an additional 27,682 shares in the last quarter. Prudential PLC bought a new stake in shares of General Electric in the first quarter valued at about $1,518,000. Sequoia Financial Advisors LLC lifted its holdings in shares of General Electric by 2.9% in the first quarter. Sequoia Financial Advisors LLC now owns 11,748 shares of the conglomerate’s stock valued at $1,075,000 after purchasing an additional 334 shares in the last quarter. Merit Financial Group LLC bought a new stake in shares of General Electric in the first quarter valued at about $388,000. Finally, West Family Investments Inc. bought a new stake in shares of General Electric in the first quarter valued at about $230,000. 70.12% of the stock is currently owned by institutional investors.

General Electric Price Performance

Shares of NYSE GE opened at $86.98 on Thursday. The business’s 50 day moving average price is $81.42 and its two-hundred day moving average price is $78.04. The company has a market cap of $94.75 billion, a PE ratio of -2,899.33, a price-to-earnings-growth ratio of 6.44 and a beta of 1.25. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.76. General Electric has a twelve month low of $46.55 and a twelve month high of $87.82.

General Electric (NYSE:GE – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The conglomerate reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.13. General Electric had a return on equity of 8.47% and a net margin of 0.29%. The firm had revenue of $21.79 billion for the quarter, compared to the consensus estimate of $22.11 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. On average, analysts predict that General Electric will post 1.93 EPS for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 25th. Stockholders of record on Tuesday, March 7th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Tuesday, March 6th. General Electric’s payout ratio is -1,066.67%.

Analysts Set New Price Targets

GE has been the topic of a number of research reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $88.00 price target on shares of General Electric in a report on Monday. Royal Bank of Canada boosted their price target on General Electric from $87.00 to $93.00 and gave the company an “outperform” rating in a report on Tuesday, February 28th. Citigroup boosted their price target on General Electric from $87.00 to $100.00 and gave the company a “buy” rating in a report on Friday, December 9th. TheStreet upgraded General Electric from a “c” rating to a “b-” rating in a report on Friday, February 10th. Finally, Argus upped their target price on General Electric from $85.00 to $90.00 in a report on Tuesday, January 31st. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $90.50.

General Electric Company Profile

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General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.