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 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
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.
- Get a free copy of the StockNews.com research report on General Electric (GE)
- META Platforms May See its Biggest Opening Yet for New Highs
- Penny Stock Vinco Ventures Could Be Big Winner
- Is Chip Design Specialist Synopsys A Gem Hiding In Plain Sight?
- Should You Park Some Capital with Casey’s General Stores?
- Crowdstrike Stock: While The Iron Is Hot!
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE – Get Rating).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.