General Electric (NYSE:GE) Shares Bought by Raymond James & Associates

Raymond James & Associates raised its holdings in shares of General Electric (NYSE:GE) by 17.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 684,909 shares of the conglomerate’s stock after acquiring an additional 101,421 shares during the period. Raymond James & Associates owned approximately 0.06% of General Electric worth $129,160,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of General Electric by 1.6% in the fourth quarter. Wellington Management Group LLP now owns 133,618 shares of the conglomerate’s stock valued at $17,054,000 after buying an additional 2,055 shares in the last quarter. Fulton Bank N.A. purchased a new position in General Electric during the first quarter valued at $258,000. RFG Advisory LLC lifted its holdings in General Electric by 35.9% during the first quarter. RFG Advisory LLC now owns 2,848 shares of the conglomerate’s stock valued at $500,000 after purchasing an additional 753 shares in the last quarter. &PARTNERS acquired a new stake in shares of General Electric in the first quarter valued at about $529,000. Finally, Mountain Pacific Investment Advisers Inc. ID purchased a new stake in shares of General Electric during the first quarter worth about $246,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Sanford C. Bernstein raised their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. UBS Group raised their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Jefferies Financial Group upped their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Barclays upped their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. 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 stock has a consensus rating of “Moderate Buy” and an average target price of $196.86.

General Electric Price Performance

Shares of GE opened at $192.61 on Friday. The firm has a fifty day moving average price of $178.51 and a 200 day moving average price of $167.42. The stock has a market cap of $210.83 billion, a PE ratio of 63.15, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. General Electric has a 1-year low of $84.42 and a 1-year high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

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

General Electric Announces Dividend

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