General Electric (NYSE:GE) Shares Bought by Pelham Capital Ltd.

Pelham Capital Ltd. raised its position in General Electric (NYSE:GE) by 209.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 128,986 shares of the conglomerate’s stock after buying an additional 87,321 shares during the period. General Electric comprises 14.5% of Pelham Capital Ltd.’s investment portfolio, making the stock its 2nd biggest position. Pelham Capital Ltd.’s holdings in General Electric were worth $24,324,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GE. Studio Investment Management LLC raised its holdings in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the period. MFA Wealth Advisors LLC purchased a new position in shares of General Electric in the second quarter valued at approximately $31,000. Kapitalo Investimentos Ltda acquired a new position in shares of General Electric in the fourth quarter worth $32,000. Financial Connections Group Inc. purchased a new position in shares of General Electric in the 2nd quarter valued at about $32,000. Finally, Richardson Financial Services Inc. purchased a new position in General Electric in the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GE shares. UBS Group raised their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Citigroup upped their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $196.86.

General Electric Stock Down 0.0 %

Shares of NYSE:GE traded down $0.01 during trading on Friday, hitting $192.61. The company’s stock had a trading volume of 3,075,931 shares, compared to its average volume of 6,334,083. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $194.80. The stock’s 50-day moving average price is $178.51 and its two-hundred day moving average price is $167.21. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The company has a market capitalization of $210.83 billion, a PE ratio of 63.12, a PEG ratio of 1.86 and a beta of 1.18.

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

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. General Electric’s dividend payout ratio (DPR) is 36.72%.

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.