Aaron Wealth Advisors LLC Has $1.09 Million Stock Position in General Electric (NYSE:GE)

Aaron Wealth Advisors LLC raised its position in General Electric (NYSE:GE) by 26.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,773 shares of the conglomerate’s stock after purchasing an additional 1,222 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in General Electric were worth $1,089,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Newport Trust Company LLC acquired a new stake in shares of General Electric in the 2nd quarter valued at $2,613,332,000. Capital World Investors lifted its position in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares during the last quarter. Capital International Investors boosted its stake in shares of General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after acquiring an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of 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 valued at approximately $580,200,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Jefferies Financial Group upped their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. UBS Group raised their target price on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. 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 research report on Thursday, October 10th. Wells Fargo & Company upped their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Barclays lifted their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $196.86.

General Electric Stock Performance

Shares of GE traded down $0.84 on Friday, reaching $191.78. 855,848 shares of the stock traded hands, compared to its average volume of 6,323,099. The stock’s 50-day moving average price is $178.01 and its 200-day moving average price is $167.09. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The firm has a market cap of $209.92 billion, a price-to-earnings ratio of 62.88, a P/E/G ratio of 1.86 and a beta of 1.18. General Electric has a 12 month low of $84.42 and a 12 month high of $194.80.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share 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 net margin of 7.66% and a return on equity of 16.07%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 earnings per share. Equities analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders 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 yield of 0.58%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is 36.72%.

General Electric Company 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.