UMB Bank n.a. Raises Stock Holdings in General Electric (NYSE:GE)

UMB Bank n.a. grew its stake in General Electric (NYSE:GE) by 16.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,600 shares of the conglomerate’s stock after buying an additional 1,061 shares during the quarter. UMB Bank n.a.’s holdings in General Electric were worth $1,433,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Guardian Asset Advisors LLC purchased a new stake in shares of General Electric during the third quarter worth about $286,000. Mountain Pacific Investment Advisers LLC purchased a new stake in shares of General Electric during the third quarter worth about $231,000. Perpetual Ltd grew its position in shares of General Electric by 1.0% during the third quarter. Perpetual Ltd now owns 13,880 shares of the conglomerate’s stock worth $2,617,000 after purchasing an additional 134 shares in the last quarter. Bruce G. Allen Investments LLC grew its position in shares of General Electric by 2.9% during the third quarter. Bruce G. Allen Investments LLC now owns 4,438 shares of the conglomerate’s stock worth $837,000 after purchasing an additional 124 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. grew its position in shares of General Electric by 25.8% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 20,098 shares of the conglomerate’s stock worth $3,790,000 after purchasing an additional 4,128 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

NYSE:GE opened at $191.20 on Friday. The firm has a market capitalization of $207.32 billion, a price-to-earnings ratio of 45.31, a PEG ratio of 1.86 and a beta of 1.18. General Electric has a 1 year low of $84.42 and a 1 year high of $191.76. The business has a 50 day simple moving average of $175.61 and a 200-day simple moving average of $166.65. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the company earned $0.68 EPS. Equities analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is currently 26.54%.

Analyst Ratings Changes

Several research firms recently issued reports on GE. Deutsche Bank Aktiengesellschaft increased their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company increased their target price on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Citigroup increased their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada increased 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. Finally, UBS Group increased 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. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average price target of $195.14.

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.