Exchange Traded Concepts LLC Boosts Stake in General Electric (NYSE:GE)

Exchange Traded Concepts LLC boosted its position in shares of General Electric (NYSE:GE) by 8.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,257 shares of the conglomerate’s stock after buying an additional 4,787 shares during the period. Exchange Traded Concepts LLC’s holdings in General Electric were worth $11,740,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Studio Investment Management LLC grew its holdings in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of General Electric in the 2nd quarter worth $31,000. Kapitalo Investimentos Ltda bought a new stake in shares of General Electric in the 4th quarter worth about $32,000. Financial Connections Group Inc. purchased a new stake in shares of General Electric during the 2nd quarter valued at about $32,000. Finally, Richardson Financial Services Inc. bought a new position in shares of General Electric in the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 1.6 %

Shares of GE stock opened at $191.16 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The company has a market cap of $207.28 billion, a price-to-earnings ratio of 45.30, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The stock’s fifty day moving average price is $175.61 and its 200 day moving average price is $166.60. General Electric has a 1-year low of $84.42 and a 1-year high of $191.76.

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 analysts’ consensus estimates of $0.99 by $0.21. The business 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 business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.68 earnings per share. On average, research analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.59%. General Electric’s dividend payout ratio is currently 26.54%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company increased their price target on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Barclays raised their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Sanford C. Bernstein assumed coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price objective for the company. Finally, StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.14.

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.