Ameritas Investment Partners Inc. Boosts Holdings in General Electric (NYSE:GE)

Ameritas Investment Partners Inc. boosted its holdings in General Electric (NYSE:GE) by 8.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,993 shares of the conglomerate’s stock after purchasing an additional 1,021 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in General Electric were worth $2,065,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Aveo Capital Partners LLC purchased a new position in General Electric during the fourth quarter valued at $203,000. Gryphon Financial Partners LLC grew its position in shares of General Electric by 57.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock valued at $1,526,000 after purchasing an additional 4,354 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of General Electric by 27.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 177,912 shares of the conglomerate’s stock worth $22,707,000 after purchasing an additional 38,784 shares during the last quarter. US Bancorp DE increased its holdings in shares of General Electric by 4.6% in the fourth quarter. US Bancorp DE now owns 308,716 shares of the conglomerate’s stock worth $39,401,000 after purchasing an additional 13,681 shares during the last quarter. Finally, SageView Advisory Group LLC lifted its position in shares of General Electric by 38.5% in the fourth quarter. SageView Advisory Group LLC now owns 7,730 shares of the conglomerate’s stock worth $1,035,000 after buying an additional 2,147 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group raised their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Jefferies Financial Group upped their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada lifted their price objective on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Barclays upped their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $191.36.

General Electric Stock Up 0.7 %

Shares of NYSE:GE opened at $187.43 on Friday. The firm has a market capitalization of $205.16 billion, a PE ratio of 61.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The business has a 50 day simple moving average of $168.69 and a two-hundred day simple moving average of $170.77. General Electric has a 1 year low of $84.42 and a 1 year high of $187.99. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the previous year, the business earned $0.68 EPS. General Electric’s revenue was up 3.9% compared to the same quarter last year. On average, equities analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is presently 36.72%.

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.