Blue Trust Inc. Buys 5,433 Shares of General Electric (NYSE:GE)

Blue Trust Inc. lifted its stake in General Electric (NYSE:GE) by 66.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 13,643 shares of the conglomerate’s stock after purchasing an additional 5,433 shares during the quarter. Blue Trust Inc.’s holdings in General Electric were worth $2,573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GE. Mackenzie Financial Corp lifted its holdings in General Electric by 10.5% during the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after purchasing an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC purchased a new position in shares of General Electric during the 2nd quarter valued at $1,569,000. GAMMA Investing LLC boosted its holdings in General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after buying an additional 3,442 shares during the period. Senator Investment Group LP purchased a new stake in General Electric in the 2nd quarter worth $34,973,000. Finally, Blair William & Co. IL raised its holdings in General Electric by 4.4% during the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after acquiring an additional 7,670 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group increased their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Citigroup boosted their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Jefferies Financial Group boosted their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $196.86.

General Electric Stock Down 0.0 %

Shares of NYSE:GE opened at $192.61 on Friday. General Electric has a 1 year low of $84.42 and a 1 year high of $194.80. The firm has a market capitalization of $210.83 billion, a PE ratio of 63.15, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The business has a 50 day simple moving average of $178.51 and a two-hundred day simple moving average of $167.42. 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 earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The business had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. On average, equities analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

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.