DekaBank Deutsche Girozentrale Buys 55,315 Shares of General Electric (NYSE:GE)

DekaBank Deutsche Girozentrale raised its holdings in General Electric (NYSE:GE) by 11.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 518,960 shares of the conglomerate’s stock after acquiring an additional 55,315 shares during the period. DekaBank Deutsche Girozentrale’s holdings in General Electric were worth $83,712,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GE. Aveo Capital Partners LLC purchased a new stake in shares of General Electric in the 4th quarter valued at about $203,000. Gryphon Financial Partners LLC raised its holdings in shares of General Electric by 57.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock valued at $1,526,000 after buying an additional 4,354 shares in the last quarter. Jump Financial LLC purchased a new position in shares of General Electric during the 4th quarter valued at about $477,000. Janney Montgomery Scott LLC raised its holdings in shares of General Electric by 18.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 122,924 shares of the conglomerate’s stock valued at $15,689,000 after buying an additional 18,901 shares in the last quarter. Finally, American National Bank raised its holdings in shares of General Electric by 16.7% during the 4th quarter. American National Bank now owns 4,063 shares of the conglomerate’s stock valued at $519,000 after buying an additional 582 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 5.1 %

NYSE GE opened at $178.28 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. General Electric has a twelve month low of $84.42 and a twelve month high of $179.32. The firm has a market capitalization of $195.15 billion, a PE ratio of 58.45, a P/E/G ratio of 1.65 and a beta of 1.18. The stock’s 50 day moving average is $166.57 and its 200 day moving average is $171.42.

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

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is 36.72%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GE. Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Sanford C. Bernstein began coverage on General Electric in a report on Tuesday. They set an “outperform” rating and a $201.00 price objective on the stock. UBS Group raised their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Wells Fargo & Company lifted their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average price target of $191.14.

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.