Strategic Advocates LLC Acquires Shares of 15,196 General Electric (NYSE:GE)

Strategic Advocates LLC purchased a new position in shares of General Electric (NYSE:GE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,196 shares of the conglomerate’s stock, valued at approximately $2,866,000. General Electric makes up approximately 1.0% of Strategic Advocates LLC’s holdings, making the stock its 20th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Newport Trust Company LLC bought a new position in General Electric during the 2nd quarter valued at $2,613,332,000. Capital World Investors boosted its stake in General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares during the last quarter. Capital International Investors boosted its stake in General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in General Electric by 221.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after acquiring an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of General Electric in the 2nd quarter worth about $580,200,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.0 %

Shares of GE stock traded down $0.01 during trading on Friday, hitting $192.61. 1,119,775 shares of the company were exchanged, compared to its average volume of 6,324,405. 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 firm has a market capitalization of $210.83 billion, a price-to-earnings ratio of 62.88, a P/E/G ratio of 1.86 and a beta of 1.18. The business’s 50-day simple moving average is $178.01 and its 200 day simple moving average is $167.09. General Electric has a twelve month low of $84.42 and a twelve month high of $194.80.

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

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s payout ratio is presently 36.72%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Jefferies Financial Group raised their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada raised their target price on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Barclays raised their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $196.86.

General Electric Profile

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.