DekaBank Deutsche Girozentrale Boosts Stake in General Electric (NYSE:GE)

DekaBank Deutsche Girozentrale lifted its holdings in General Electric (NYSE:GE) by 11.9% in the 2nd quarter, Holdings Channel reports. The firm owned 518,960 shares of the conglomerate’s stock after acquiring an additional 55,315 shares during the period. DekaBank Deutsche Girozentrale’s holdings in General Electric were worth $83,712,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GE. Aveo Capital Partners LLC purchased a new position in shares of General Electric in the fourth quarter worth $203,000. Gryphon Financial Partners LLC raised its stake in shares of General Electric by 57.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock worth $1,526,000 after purchasing an additional 4,354 shares during the last quarter. Jump Financial LLC purchased a new position in shares of General Electric in the fourth quarter worth $477,000. Janney Montgomery Scott LLC raised its stake in shares of General Electric by 18.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 122,924 shares of the conglomerate’s stock worth $15,689,000 after purchasing an additional 18,901 shares during the last quarter. Finally, American National Bank raised its stake in shares of General Electric by 16.7% in the fourth quarter. American National Bank now owns 4,063 shares of the conglomerate’s stock worth $519,000 after purchasing an additional 582 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 5.1 %

Shares of GE stock opened at $178.28 on Friday. General Electric has a 1 year low of $84.42 and a 1 year high of $179.32. 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’s 50 day simple moving average is $166.57 and its two-hundred day simple moving average is $171.42. The company has a market cap of $195.15 billion, a PE ratio of 58.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GE. Sanford C. Bernstein began coverage on General Electric in a research report on Tuesday. They set an “outperform” rating and a $201.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Royal Bank of Canada boosted their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, UBS Group boosted their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $191.14.

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.