Northeast Investment Management Buys 166 Shares of General Electric (NYSE:GE)

Northeast Investment Management lifted its stake in shares of General Electric (NYSE:GE) by 6.7% in the third quarter, HoldingsChannel reports. The fund owned 2,649 shares of the conglomerate’s stock after acquiring an additional 166 shares during the period. Northeast Investment Management’s holdings in General Electric were worth $500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GE. Norden Group LLC bought a new position in shares of General Electric during the 1st quarter valued at approximately $234,000. Diversify Advisory Services LLC purchased a new position in General Electric in the 1st quarter worth approximately $288,000. Nordea Investment Management AB lifted its holdings in General Electric by 0.5% in the 1st quarter. Nordea Investment Management AB now owns 106,753 shares of the conglomerate’s stock worth $18,694,000 after purchasing an additional 572 shares in the last quarter. FORA Capital LLC purchased a new position in General Electric in the 1st quarter worth approximately $1,773,000. Finally, Jennison Associates LLC lifted its holdings in General Electric by 34.4% in the 1st quarter. Jennison Associates LLC now owns 482,383 shares of the conglomerate’s stock worth $84,673,000 after purchasing an additional 123,390 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Sanford C. Bernstein boosted their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company upped their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Bank of America upped their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Performance

NYSE:GE opened at $171.70 on Monday. The stock’s fifty day moving average is $180.20 and its 200 day moving average is $169.19. General Electric has a fifty-two week low of $85.89 and a fifty-two week high of $194.80. The firm has a market capitalization of $185.83 billion, a PE ratio of 30.18, a PEG ratio of 1.70 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

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

General Electric Announces Dividend

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

General Electric Company 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.