Stephens Inc. AR Grows Stock Holdings in General Electric (NYSE:GE)

Stephens Inc. AR boosted its stake in shares of General Electric (NYSE:GE) by 5.7% during the third quarter, Holdings Channel reports. The firm owned 30,587 shares of the conglomerate’s stock after purchasing an additional 1,654 shares during the quarter. Stephens Inc. AR’s holdings in General Electric were worth $5,768,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Capital International Investors lifted its stake in shares of General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after purchasing an additional 5,309,543 shares during the period. Newport Trust Company LLC bought a new position in General Electric in the second quarter worth approximately $2,613,332,000. Capital World Investors boosted its stake in shares of General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after acquiring an additional 12,312,648 shares during the last quarter. Legal & General Group Plc grew its position 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 valued at $1,336,257,000 after acquiring an additional 459,201 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GE shares. Wells Fargo & Company lifted their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. UBS Group lifted their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Bank of America increased their price objective 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. Two 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Down 0.0 %

Shares of GE stock opened at $171.70 on Friday. The company’s fifty day simple moving average is $180.20 and its two-hundred day simple moving average is $169.10. General Electric has a 52 week low of $85.89 and a 52 week high of $194.80. The stock has a market cap of $185.83 billion, a P/E ratio of 30.18, a PEG ratio of 1.70 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate 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. Analysts predict that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

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