True North Advisors LLC Has $4.90 Million Holdings in General Electric (NYSE:GE)

True North Advisors LLC increased its stake in shares of General Electric (NYSE:GE) by 142.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,972 shares of the conglomerate’s stock after acquiring an additional 15,264 shares during the quarter. General Electric makes up about 1.3% of True North Advisors LLC’s portfolio, making the stock its 11th largest position. True North Advisors LLC’s holdings in General Electric were worth $4,898,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Studio Investment Management LLC lifted its stake in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares in the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric in the 2nd quarter worth about $31,000. Kapitalo Investimentos Ltda bought a new position in General Electric in the 4th quarter valued at about $32,000. Financial Connections Group Inc. acquired a new position in General Electric during the 2nd quarter valued at about $32,000. Finally, Richardson Financial Services Inc. bought a new stake in General Electric during the 1st quarter worth approximately $34,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of GE opened at $187.47 on Wednesday. General Electric has a 1 year low of $84.42 and a 1 year high of $190.88. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The stock’s fifty day moving average price is $174.24 and its two-hundred day moving average price is $166.21. The firm has a market cap of $205.21 billion, a PE ratio of 61.47, 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the business earned $0.68 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. General Electric’s payout ratio is 36.72%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GE shares. Wells Fargo & Company raised their target price on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Sanford C. Bernstein began coverage on shares of General Electric in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price for the company. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada upped their price objective on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $193.00.

General Electric 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.