Quantbot Technologies LP Buys New Holdings in General Electric (NYSE:GE)

Quantbot Technologies LP purchased a new position in shares of General Electric (NYSE:GE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 18,636 shares of the conglomerate’s stock, valued at approximately $2,963,000.

A number of other large investors also recently modified their holdings of the company. Macroview Investment Management LLC grew its stake in shares of General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. Allegheny Financial Group LTD increased 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 valued at $714,000 after acquiring an additional 61 shares during the last quarter. New England Research & Management Inc. increased its holdings in shares of General Electric by 2.2% in the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after acquiring an additional 63 shares during the last quarter. Choate Investment Advisors lifted its stake in General Electric by 0.4% during the first quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock worth $2,808,000 after purchasing an additional 65 shares during the last quarter. Finally, First National Trust Co lifted its stake in General Electric by 1.7% during the second quarter. First National Trust Co now owns 3,912 shares of the conglomerate’s stock worth $622,000 after purchasing an additional 66 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GE. Wells Fargo & Company raised their price objective on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. UBS Group upped their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Sanford C. Bernstein initiated coverage on General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price on the stock. Finally, Barclays upped their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Stock Performance

Shares of GE opened at $180.32 on Wednesday. General Electric has a 1 year low of $84.42 and a 1 year high of $182.43. The stock has a market capitalization of $197.38 billion, a P/E ratio of 59.12, a P/E/G ratio of 1.65 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The company’s fifty day moving average is $167.28 and its two-hundred day moving average is $170.87.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share. On average, sell-side analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The firm 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 $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric’s dividend payout ratio is currently 36.72%.

General Electric Company 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.