Great Lakes Retirement Inc. Grows Stake in General Electric (NYSE:GE)

Great Lakes Retirement Inc. increased its holdings in General Electric (NYSE:GE) by 169.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,455 shares of the conglomerate’s stock after buying an additional 1,543 shares during the period. Great Lakes Retirement Inc.’s holdings in General Electric were worth $463,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Tsfg LLC increased its holdings in shares of General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after buying an additional 55 shares during the last quarter. Macroview Investment Management LLC raised its position in General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. Strategic Advisors LLC lifted its stake in General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after purchasing an additional 58 shares during the last quarter. Allegheny Financial Group LTD boosted its holdings in shares of General Electric by 1.4% in the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after purchasing an additional 61 shares in the last quarter. Finally, New England Research & Management Inc. increased its position in shares of General Electric by 2.2% during the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on GE shares. Citigroup boosted their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group boosted their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America increased their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, 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 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Performance

NYSE:GE opened at $179.64 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The firm’s fifty day simple moving average is $179.51 and its 200 day simple moving average is $168.15. The stock has a market cap of $196.64 billion, a P/E ratio of 58.90, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. General Electric has a twelve month low of $84.58 and a twelve month high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the previous year, the company earned $0.82 earnings per share. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, research analysts predict that General Electric will post 4.2 EPS 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 0.62%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is presently 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.