Park Place Capital Corp Has $82,000 Stock Holdings in General Electric (NYSE:GE)

Park Place Capital Corp increased its holdings in shares of General Electric (NYSE:GE) by 133.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 437 shares of the conglomerate’s stock after purchasing an additional 250 shares during the period. Park Place Capital Corp’s holdings in General Electric were worth $82,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position 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 worth $11,288,136,000 after purchasing an additional 550,996 shares during the last quarter. Capital International Investors lifted its position 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 worth $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Newport Trust Company LLC acquired a new position in shares of General Electric during the 2nd quarter worth about $2,613,332,000. Capital World Investors lifted its position 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 worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Finally, Legal & General Group Plc lifted its position 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 worth $1,336,257,000 after purchasing an additional 459,201 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Up 0.8 %

GE stock opened at $187.47 on Wednesday. General Electric has a 1-year low of $84.42 and a 1-year high of $190.88. The firm has a market cap of $205.21 billion, a P/E ratio of 61.47, a P/E/G ratio of 1.87 and a beta of 1.18. The business’s 50 day moving average is $173.84 and its 200-day moving average is $166.13. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

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

General Electric Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GE shares. Sanford C. Bernstein started coverage on General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target on the stock. Royal Bank of Canada boosted their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. UBS Group boosted their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, Jefferies Financial Group boosted their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $193.00.

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.