Harbor Capital Advisors Inc. Raises Holdings in General Electric (NYSE:GE)

Harbor Capital Advisors Inc. boosted its position in General Electric (NYSE:GE) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,185 shares of the conglomerate’s stock after purchasing an additional 102 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in General Electric were worth $3,995,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Norden Group LLC acquired a new position in General Electric during the first quarter worth about $234,000. Diversify Advisory Services LLC acquired a new stake in shares of General Electric in the first quarter valued at approximately $288,000. Nordea Investment Management AB lifted its position in General Electric by 0.5% during the first quarter. Nordea Investment Management AB now owns 106,753 shares of the conglomerate’s stock worth $18,694,000 after buying an additional 572 shares in the last quarter. FORA Capital LLC acquired a new position in General Electric during the first quarter worth $1,773,000. Finally, Jennison Associates LLC boosted its stake in General Electric by 34.4% during the first quarter. Jennison Associates LLC now owns 482,383 shares of the conglomerate’s stock worth $84,673,000 after buying an additional 123,390 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of General Electric stock opened at $171.70 on Monday. The business has a 50-day simple moving average of $180.20 and a 200-day simple moving average of $169.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a one year low of $85.89 and a one year high of $194.80. The company has a market cap of $185.83 billion, a PE ratio of 30.18, a P/E/G ratio of 1.70 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the company posted $0.82 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts forecast that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s dividend payout ratio (DPR) is 19.68%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. UBS Group raised their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

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.