General Electric (NYSE:GE) Shares Acquired by Centaurus Financial Inc.

Centaurus Financial Inc. lifted its holdings in shares of General Electric (NYSE:GE) by 53.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,404 shares of the conglomerate’s stock after purchasing an additional 1,181 shares during the quarter. Centaurus Financial Inc.’s holdings in General Electric were worth $541,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GE. Newport Trust Company LLC purchased a new position in shares of General Electric in the 2nd quarter worth $2,613,332,000. Capital World Investors raised its position in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares during the period. Capital International Investors raised its position in shares of General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after buying an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board raised its position in shares of General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after buying an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of General Electric in the 2nd quarter worth $580,200,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Royal Bank of Canada raised their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company raised their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group lifted their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $193.00.

General Electric Stock Performance

Shares of GE stock opened at $187.02 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. The business has a 50 day moving average of $173.52 and a two-hundred day moving average of $166.17. General Electric has a 52 week low of $84.42 and a 52 week high of $190.88. The company has a market cap of $204.71 billion, a P/E ratio of 61.32, a PEG ratio of 1.87 and a beta of 1.18.

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

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. 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.