AQR Capital Management LLC Has $468.50 Million Holdings in General Electric (NYSE:GE)

AQR Capital Management LLC raised its stake in shares of General Electric (NYSE:GE) by 17.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,947,084 shares of the conglomerate’s stock after buying an additional 439,105 shares during the period. General Electric accounts for approximately 0.7% of AQR Capital Management LLC’s portfolio, making the stock its 12th biggest holding. AQR Capital Management LLC’s holdings in General Electric were worth $468,498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aveo Capital Partners LLC bought a new stake in General Electric during the fourth quarter valued at about $203,000. Gryphon Financial Partners LLC boosted its stake in General Electric by 57.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock valued at $1,526,000 after purchasing an additional 4,354 shares during the period. Nations Financial Group Inc. IA ADV grew its holdings in General Electric by 5.7% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,059 shares of the conglomerate’s stock valued at $263,000 after buying an additional 111 shares during the last quarter. Hilltop Holdings Inc. increased its position in General Electric by 36.5% in the 4th quarter. Hilltop Holdings Inc. now owns 2,805 shares of the conglomerate’s stock worth $358,000 after buying an additional 750 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its position in General Electric by 1.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 73,302 shares of the conglomerate’s stock worth $9,356,000 after buying an additional 1,022 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GE. Sanford C. Bernstein started coverage on General Electric in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price objective for the company. Barclays increased their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report 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 stock an “overweight” rating in a report on Wednesday, July 24th. Jefferies Financial Group upped 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. Finally, Royal Bank of Canada lifted their target price on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $191.36.

General Electric Stock Performance

General Electric stock opened at $189.34 on Thursday. The firm has a market capitalization of $205.30 billion, a P/E ratio of 62.08, a P/E/G ratio of 1.87 and a beta of 1.18. The stock has a fifty day moving average price of $169.81 and a two-hundred day moving average price of $170.28. General Electric has a 52-week low of $84.42 and a 52-week high of $190.88. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. As a group, analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

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

About General Electric

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.