General Electric (NYSE:GE) Shares Purchased by Aspiriant LLC

Aspiriant LLC lifted its position in General Electric (NYSE:GE) by 22.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,497 shares of the conglomerate’s stock after purchasing an additional 994 shares during the quarter. Aspiriant LLC’s holdings in General Electric were worth $1,037,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GE. Newport Trust Company LLC acquired a new stake in General Electric during the 2nd quarter worth approximately $2,613,332,000. Capital World Investors lifted its position in General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after acquiring an additional 12,312,648 shares during the period. Capital International Investors lifted its position in General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after acquiring an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board lifted its position in General Electric by 221.6% during 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 acquiring an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in General Electric during the 2nd quarter worth approximately $580,200,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GE. Sanford C. Bernstein increased their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday. Citigroup increased their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. UBS Group increased their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Barclays increased their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group increased their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average target price of $196.86.

General Electric Price Performance

NYSE GE traded down $0.58 during mid-day trading on Friday, hitting $192.04. The stock had a trading volume of 1,029,114 shares, compared to its average volume of 6,323,957. General Electric has a 52-week low of $84.42 and a 52-week high of $194.80. The company has a market cap of $210.21 billion, a price-to-earnings ratio of 62.88, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a 50 day simple moving average of $178.01 and a 200 day simple moving average of $167.09. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion for 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%. General Electric’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. Equities analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The business 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. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, September 26th. 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.