MBB Public Markets I LLC Grows Stock Position in General Electric (NYSE:GE)

MBB Public Markets I LLC increased its stake in General Electric (NYSE:GE) by 6,591.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,485 shares of the conglomerate’s stock after acquiring an additional 76,327 shares during the period. MBB Public Markets I LLC’s holdings in General Electric were worth $12,318,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Daymark Wealth Partners LLC boosted its stake in shares of General Electric by 19.9% during the second quarter. Daymark Wealth Partners LLC now owns 21,720 shares of the conglomerate’s stock valued at $3,453,000 after purchasing an additional 3,607 shares during the period. DSM Capital Partners LLC bought a new stake in General Electric during the 2nd quarter valued at $25,074,000. APG Asset Management N.V. boosted its position in General Electric by 1.9% during the 2nd quarter. APG Asset Management N.V. now owns 1,165,522 shares of the conglomerate’s stock valued at $172,879,000 after buying an additional 21,564 shares during the period. AQR Capital Management LLC grew its holdings in General Electric by 17.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,947,084 shares of the conglomerate’s stock worth $468,498,000 after acquiring an additional 439,105 shares during the last quarter. Finally, AXA S.A. increased its position in shares of General Electric by 297.1% in the second quarter. AXA S.A. now owns 581,073 shares of the conglomerate’s stock valued at $86,580,000 after acquiring an additional 434,735 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their target price 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. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Sanford C. Bernstein initiated 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. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.36.

General Electric Trading Down 2.4 %

NYSE:GE opened at $184.59 on Friday. The firm has a market capitalization of $200.15 billion, a P/E ratio of 60.52, a PEG ratio of 1.87 and a beta of 1.18. 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 has a one year low of $84.42 and a one year high of $190.88. The company’s 50-day simple moving average is $170.46 and its 200 day simple moving average is $170.42.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the previous year, the firm posted $0.68 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. General Electric’s payout ratio is presently 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.