General Electric (NYSE:GE) Stake Raised by CVA Family Office LLC

CVA Family Office LLC raised its position in shares of General Electric (NYSE:GE) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,962 shares of the conglomerate’s stock after purchasing an additional 83 shares during the period. CVA Family Office LLC’s holdings in General Electric were worth $370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital International Investors raised its stake 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 worth $10,373,936,000 after purchasing an additional 5,309,543 shares in the last quarter. Newport Trust Company LLC acquired a new position in shares of General Electric during the 2nd quarter valued at about $2,613,332,000. Capital World Investors increased its holdings 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 valued at $2,237,930,000 after acquiring an additional 12,312,648 shares during the last quarter. Legal & General Group Plc increased its holdings 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 last quarter. Finally, Canada Pension Plan Investment Board increased its holdings 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 acquiring an additional 4,907,530 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Price Performance

Shares of NYSE:GE opened at $191.16 on Monday. General Electric has a 1-year low of $84.42 and a 1-year high of $191.76. The firm has a market capitalization of $209.25 billion, a PE ratio of 62.68, a PEG ratio of 1.86 and a beta of 1.18. The business’s 50 day moving average is $175.61 and its 200-day moving average is $166.50. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS. Sell-side analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.59%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GE. Royal Bank of Canada increased their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Jefferies Financial Group increased their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Sanford C. Bernstein started coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price on the stock. Finally, Wells Fargo & Company raised their target price on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.14.

About General Electric

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.