Ballentine Partners LLC Acquires 4,100 Shares of General Electric (NYSE:GE)

Ballentine Partners LLC lifted its stake in General Electric (NYSE:GE) by 23.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,398 shares of the conglomerate’s stock after purchasing an additional 4,100 shares during the quarter. Ballentine Partners LLC’s holdings in General Electric were worth $4,035,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in GE. Mackenzie Financial Corp grew its position in General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after purchasing an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC bought a new position in shares of General Electric in the second quarter worth approximately $1,569,000. GAMMA Investing LLC lifted its stake in shares of General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after buying an additional 3,442 shares in the last quarter. Senator Investment Group LP purchased a new stake in shares of General Electric during the second quarter valued at approximately $34,973,000. Finally, Blair William & Co. IL increased its position in shares of General Electric by 4.4% during the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after acquiring an additional 7,670 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

GE has been the topic of several analyst reports. Citigroup upped their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada lowered their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday. Jefferies Financial Group lifted their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Barclays boosted their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Melius Research raised their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Trading Down 1.1 %

Shares of General Electric stock opened at $179.64 on Friday. General Electric has a 1-year low of $84.58 and a 1-year high of $194.80. The company’s fifty day simple moving average is $179.51 and its 200-day simple moving average is $168.15. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The stock has a market capitalization of $196.64 billion, a PE ratio of 58.90, a P/E/G ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last announced 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. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the firm earned $0.82 EPS. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid 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 0.62%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

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.