NorthCrest Asset Manangement LLC Raises Stock Position in General Electric (NYSE:GE)

NorthCrest Asset Manangement LLC raised its stake in shares of General Electric (NYSE:GE) by 65.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,089 shares of the conglomerate’s stock after purchasing an additional 830 shares during the period. NorthCrest Asset Manangement LLC’s holdings in General Electric were worth $394,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Mackenzie Financial Corp boosted its stake in shares of General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after acquiring an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC purchased a new stake in General Electric during the 2nd quarter valued at about $1,569,000. GAMMA Investing LLC raised its holdings in General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after acquiring an additional 3,442 shares during the last quarter. Senator Investment Group LP purchased a new position in General Electric in the 2nd quarter worth approximately $34,973,000. Finally, Blair William & Co. IL boosted its stake in General Electric by 4.4% during the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock worth $28,928,000 after buying an additional 7,670 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Down 0.4 %

GE opened at $179.10 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 52 week low of $84.58 and a 52 week high of $194.80. The business’s 50 day moving average is $179.90 and its two-hundred day moving average is $168.56. The firm has a market cap of $194.20 billion, a price-to-earnings ratio of 31.48, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the business posted $0.82 earnings per share. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. On average, 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 was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GE shares. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company increased their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Citigroup boosted their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average price target of $200.93.

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.