3Chopt Investment Partners LLC Purchases Shares of 4,431 General Electric (NYSE:GE)

3Chopt Investment Partners LLC purchased a new stake in General Electric (NYSE:GE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,431 shares of the conglomerate’s stock, valued at approximately $704,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after buying an additional 550,996 shares in the last quarter. Capital International Investors raised its holdings in shares of General Electric by 9.9% during 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 in the last quarter. Newport Trust Company LLC purchased a new position in shares of General Electric during the 2nd quarter valued at about $2,613,332,000. Capital World Investors raised its holdings in shares of General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after buying an additional 459,201 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company raised their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Finally, Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Two equities research 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.36.

General Electric Price Performance

Shares of GE stock opened at $188.51 on Tuesday. The firm has a market cap of $206.34 billion, a P/E ratio of 61.81, a P/E/G ratio of 1.87 and a beta of 1.18. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $190.88. The business’s 50 day moving average price is $172.02 and its 200-day moving average price is $169.63. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. On average, equities research analysts anticipate that General Electric will post 4.2 earnings per share for the current 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 of this dividend is Thursday, September 26th. 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.