Neville Rodie & Shaw Inc. Increases Stock Position in General Electric (NYSE:GE)

Neville Rodie & Shaw Inc. grew its stake in shares of General Electric (NYSE:GE) by 0.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 83,582 shares of the conglomerate’s stock after buying an additional 170 shares during the period. General Electric accounts for approximately 1.2% of Neville Rodie & Shaw Inc.’s holdings, making the stock its 24th biggest holding. Neville Rodie & Shaw Inc.’s holdings in General Electric were worth $15,762,000 at the end of the most recent reporting period.

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

General Electric Trading Up 0.1 %

General Electric stock opened at $186.42 on Thursday. The firm has a 50 day simple moving average of $172.79 and a 200-day simple moving average of $169.57. 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 has a market capitalization of $204.06 billion, a PE ratio of 61.12, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. General Electric has a 12-month low of $84.42 and a 12-month high of $190.88.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. As a group, equities research analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is presently 36.72%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a report on Friday, September 20th. UBS Group upped 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. Barclays upped their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company boosted their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group boosted their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average target price of $191.36.

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.