Mountain Pacific Investment Advisers LLC Takes $231,000 Position in General Electric (NYSE:GE)

Mountain Pacific Investment Advisers LLC bought a new stake in General Electric (NYSE:GE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,227 shares of the conglomerate’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after acquiring an additional 550,996 shares during the period. Capital International Investors increased its stake in General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares during the period. Newport Trust Company LLC acquired a new position in General Electric in the 2nd quarter valued at $2,613,332,000. Capital World Investors raised 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 buying an additional 12,312,648 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after acquiring an additional 459,201 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GE. Sanford C. Bernstein assumed coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target for the company. Wells Fargo & Company raised their price target on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Jefferies Financial Group upped their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Royal Bank of Canada boosted their price objective on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

General Electric Stock Up 1.0 %

GE opened at $189.28 on Thursday. The firm has a market cap of $207.19 billion, a P/E ratio of 62.06, a PEG ratio of 1.87 and a beta of 1.18. The business’s fifty day simple moving average is $174.62 and its 200 day simple moving average is $166.37. General Electric has a 52 week low of $84.42 and a 52 week high of $190.88. 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 released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for 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 firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.68 EPS. As a group, equities research analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 36.72%.

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.