Creative Planning Increases Stock Position in General Electric (NYSE:GE)

Creative Planning lifted its stake in shares of General Electric (NYSE:GE) by 9.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 196,581 shares of the conglomerate’s stock after acquiring an additional 16,258 shares during the period. Creative Planning’s holdings in General Electric were worth $37,071,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Studio Investment Management LLC raised its holdings in 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 during the period. MFA Wealth Advisors LLC acquired a new position in General Electric during the 2nd quarter worth $31,000. Financial Connections Group Inc. acquired a new position in General Electric in the second quarter worth about $32,000. Richardson Financial Services Inc. acquired a new stake in shares of General Electric during the 1st quarter valued at approximately $34,000. Finally, Macroview Investment Management LLC raised its holdings in shares of General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Performance

GE opened at $192.61 on Monday. The business’s fifty day moving average is $178.51 and its 200-day moving average is $167.58. The firm has a market cap of $210.83 billion, a P/E ratio of 63.15, a price-to-earnings-growth ratio of 1.86 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 $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. Sell-side analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The business 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. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GE shares. Wells Fargo & Company boosted their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Barclays raised their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Sanford C. Bernstein raised their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, UBS Group boosted their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $196.86.

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.