Americana Partners LLC Has $7.81 Million Holdings in General Electric (NYSE:GE)

Americana Partners LLC boosted its stake in shares of General Electric (NYSE:GE) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 41,393 shares of the conglomerate’s stock after buying an additional 1,742 shares during the period. Americana Partners LLC’s holdings in General Electric were worth $7,806,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Newport Trust Company LLC bought a new stake in General Electric during the second quarter worth about $2,613,332,000. Capital World Investors raised its position in General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares during the last quarter. Capital International Investors increased its position 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 valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of General Electric during the 2nd quarter valued at about $580,200,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of GE traded up $1.54 during midday trading on Friday, reaching $173.32. 1,376,741 shares of the stock were exchanged, compared to its average volume of 6,316,646. The business’s 50-day moving average price is $180.18 and its 200 day moving average price is $168.89. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a twelve month low of $85.89 and a twelve month high of $194.80. The company has a market capitalization of $187.58 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 1.72 and a beta of 1.18.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the previous year, the company earned $0.82 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts expect that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Analysts Set New Price Targets

GE has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada dropped their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Citigroup upped their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $200.93.

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.