General Electric (NYSE:GE) Stock Holdings Lifted by First Trust Direct Indexing L.P.

by · The Cerbat Gem

First Trust Direct Indexing L.P. lifted its position in General Electric (NYSE:GE – Free Report) by 58.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,189 shares of the conglomerate’s stock after acquiring an additional 10,404 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in General Electric were worth $5,316,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Toth Financial Advisory Corp acquired a new position in General Electric in the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric in the third quarter worth $27,000. Studio Investment Management LLC raised its holdings in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. MFA Wealth Advisors LLC acquired a new stake in General Electric during the second quarter valued at $31,000. Finally, Richardson Financial Services Inc. purchased a new position in General Electric in the first quarter valued at about $34,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GE. Deutsche Bank Aktiengesellschaft raised 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. Sanford C. Bernstein lifted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada dropped their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Bank of America upped their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Melius Research raised their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.93.

Get Our Latest Analysis on GE

General Electric Stock Performance

Shares of GE stock traded up $1.94 during trading hours on Wednesday, reaching $175.99. 1,032,266 shares of the company’s stock were exchanged, compared to its average volume of 6,332,920. General Electric has a fifty-two week low of $84.66 and a fifty-two week high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $190.47 billion, a P/E ratio of 30.75, a P/E/G ratio of 1.74 and a beta of 1.18. The business has a fifty day moving average price of $180.07 and a 200-day moving average price of $168.82.

General Electric (NYSE:GE – Get Free Report) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. Analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

General Electric Profile

(Free Report)

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.

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