AM Investment Strategies LLC Has $11.27 Million Stock Holdings in General Electric (NYSE:GE)

AM Investment Strategies LLC trimmed its position in shares of General Electric (NYSE:GE) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,757 shares of the conglomerate’s stock after selling 223 shares during the period. General Electric comprises 2.7% of AM Investment Strategies LLC’s holdings, making the stock its 7th biggest holding. AM Investment Strategies LLC’s holdings in General Electric were worth $11,269,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Capital International Investors lifted its holdings 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 buying an additional 5,309,543 shares in the last quarter. Newport Trust Company LLC purchased a new position in General Electric during the 2nd quarter valued at about $2,613,332,000. Capital World Investors lifted its position in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Legal & General Group Plc boosted its stake in shares of General Electric by 5.8% during the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after purchasing an additional 459,201 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after buying an additional 4,907,530 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GE shares. Barclays lifted their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Citigroup raised their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Bank of America lifted their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective 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 analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Price Performance

Shares of GE stock traded down $0.08 on Friday, reaching $171.70. 3,984,932 shares of the company were exchanged, compared to its average volume of 6,328,877. General Electric has a 1 year low of $85.89 and a 1 year high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The business has a 50-day moving average price of $180.20 and a 200 day moving average price of $169.01. The company has a market cap of $185.83 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 1.72 and a beta of 1.18.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 earnings per share. Equities research analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is currently 19.68%.

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.