3Chopt Investment Partners LLC Purchases Shares of 4,431 General Electric (NYSE:GE)

3Chopt Investment Partners LLC purchased a new stake in General Electric (NYSE:GE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,431 shares of the conglomerate’s stock, valued at approximately $704,000.

Several other institutional investors have also recently added to or reduced their stakes in GE. Mackenzie Financial Corp raised its position in shares of General Electric by 10.5% during the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after purchasing an additional 57,372 shares during the period. Marietta Investment Partners LLC bought a new stake in General Electric during the second quarter worth $1,569,000. Vanguard Group Inc. grew its holdings in General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after buying an additional 550,996 shares in the last quarter. GAMMA Investing LLC grew its holdings in General Electric by 25.4% during the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after buying an additional 3,442 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in General Electric by 4.4% during the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock worth $28,928,000 after buying an additional 7,670 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GE shares. Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Sanford C. Bernstein initiated coverage on General Electric in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price objective for the company. Barclays upped their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada upped their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company upped their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $191.36.

General Electric Stock Performance

Shares of GE opened at $188.51 on Tuesday. The stock’s 50-day simple moving average is $172.02 and its 200 day simple moving average is $169.63. The stock has a market capitalization of $206.34 billion, a price-to-earnings ratio of 61.81, a price-to-earnings-growth ratio of 1.87 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. General Electric has a 52-week low of $84.42 and a 52-week high of $190.88.

General Electric (NYSE:GE) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 EPS. Research analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.59%. General Electric’s 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.