General Electric (NYSE:GE) Shares Acquired by Sivia Capital Partners LLC

Sivia Capital Partners LLC boosted its holdings in shares of General Electric (NYSE:GE) by 3.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,466 shares of the conglomerate’s stock after purchasing an additional 83 shares during the period. Sivia Capital Partners LLC’s holdings in General Electric were worth $465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GE shares. Citigroup lifted their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday. Barclays boosted their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Jefferies Financial Group raised their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $196.86.

General Electric Stock Performance

General Electric stock traded up $1.86 during trading hours on Monday, reaching $193.02. 1,284,534 shares of the stock were exchanged, compared to its average volume of 6,389,699. General Electric has a 52-week low of $84.42 and a 52-week high of $193.93. The stock has a market cap of $211.28 billion, a P/E ratio of 63.37, a P/E/G ratio of 1.86 and a beta of 1.18. 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’s 50 day moving average is $175.61 and its 200 day moving average is $166.50.

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

General Electric Dividend Announcement

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