General Electric (NYSE:GE) Stock Holdings Lifted by Creative Planning

Creative Planning lifted its position in General Electric (NYSE:GE) by 5.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 180,323 shares of the conglomerate’s stock after buying an additional 9,078 shares during the quarter. Creative Planning’s holdings in General Electric were worth $28,666,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Newport Trust Company LLC purchased a new position in General Electric during the second quarter valued at approximately $2,613,332,000. Capital World Investors grew its position in General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares in the last quarter. Capital International Investors grew its position in General Electric by 9.9% during the first 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 in the last quarter. Canada Pension Plan Investment Board grew its position in General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after purchasing an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in General Electric during the second quarter valued at approximately $580,200,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GE shares. Sanford C. Bernstein started coverage on shares of General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective on the stock. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company lifted their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. UBS Group lifted their target price on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, Jefferies Financial Group lifted their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $191.36.

General Electric Price Performance

Shares of General Electric stock opened at $185.38 on Monday. The firm has a fifty day simple moving average of $171.51 and a 200-day simple moving average of $169.77. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1-year low of $84.42 and a 1-year high of $190.88. The stock has a market capitalization of $202.92 billion, a price-to-earnings ratio of 60.78, a PEG ratio of 1.87 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 for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the previous year, the company earned $0.68 earnings per share. General Electric’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 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.