General Electric (NYSE:GE) Shares Purchased by Highland Capital Management LLC

Highland Capital Management LLC grew its stake in shares of General Electric (NYSE:GE) by 88.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,443 shares of the conglomerate’s stock after acquiring an additional 8,667 shares during the period. Highland Capital Management LLC’s holdings in General Electric were worth $3,478,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Signet Investment Advisory Group Inc. acquired a new position in shares of General Electric in the 3rd quarter worth approximately $212,000. Burford Brothers Inc. lifted its stake in General Electric by 1.6% during the third quarter. Burford Brothers Inc. now owns 11,038 shares of the conglomerate’s stock worth $2,082,000 after purchasing an additional 175 shares during the last quarter. Cromwell Holdings LLC boosted its holdings in General Electric by 6.3% in the third quarter. Cromwell Holdings LLC now owns 3,241 shares of the conglomerate’s stock worth $612,000 after purchasing an additional 193 shares during the period. O Brien Wealth Partners LLC bought a new stake in General Electric during the third quarter valued at $27,000. Finally, Trueblood Wealth Management LLC acquired a new stake in shares of General Electric during the third quarter worth $220,000. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GE shares. Bank of America boosted their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada lowered their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company raised their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Trading Down 0.4 %

Shares of NYSE:GE opened at $179.10 on Friday. The company has a 50 day moving average of $179.90 and a 200-day moving average of $168.48. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market cap of $194.20 billion, a P/E ratio of 31.48, a P/E/G ratio of 1.74 and a beta of 1.18. General Electric has a twelve month low of $84.58 and a twelve month high of $194.80.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping 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 firm posted $0.82 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. 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.