Park Edge Advisors LLC Grows Stock Position in General Electric (NYSE:GE)

Park Edge Advisors LLC increased its stake in shares of General Electric (NYSE:GE) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,842 shares of the conglomerate’s stock after acquiring an additional 130 shares during the period. Park Edge Advisors LLC’s holdings in General Electric were worth $1,479,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GE. Capital International Investors grew its position 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 valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the period. Newport Trust Company LLC purchased a new position in General Electric during the second quarter worth approximately $2,613,332,000. Capital World Investors grew its holdings in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Legal & General Group Plc raised its stake in shares of General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after buying an additional 459,201 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position 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 buying an additional 4,907,530 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on GE shares. Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday. Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company raised their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Melius Research raised their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Trading Down 0.4 %

Shares of GE traded down $0.64 during mid-day trading on Friday, reaching $179.10. The stock had a trading volume of 3,974,941 shares, compared to its average volume of 4,120,726. General Electric has a 52-week low of $84.58 and a 52-week high of $194.80. The firm has a market cap of $194.20 billion, a price-to-earnings ratio of 31.48, a P/E/G ratio of 1.74 and a beta of 1.18. The business’s fifty day moving average is $179.90 and its 200 day moving average is $168.48. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 EPS. On average, sell-side analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio is currently 19.68%.

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.