ProShare Advisors LLC Increases Stock Holdings in General Electric (NYSE:GE)

ProShare Advisors LLC boosted its position in shares of General Electric (NYSE:GE) by 5.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,173 shares of the conglomerate’s stock after acquiring an additional 8,787 shares during the period. ProShare Advisors LLC’s holdings in General Electric were worth $26,417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Studio Investment Management LLC boosted its position in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in General Electric in the 2nd quarter worth approximately $31,000. Kapitalo Investimentos Ltda bought a new position in shares of General Electric in the 4th quarter worth $32,000. Financial Connections Group Inc. purchased a new stake in shares of General Electric during the 2nd quarter valued at $32,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of General Electric during the 1st quarter valued at $34,000. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on GE shares. Wells Fargo & Company increased their target price on 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 raised their price objective on General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada upped their target price on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Barclays boosted their price objective 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. Finally, Sanford C. Bernstein started coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.36.

General Electric Stock Up 0.7 %

NYSE GE opened at $188.71 on Tuesday. General Electric has a 1 year low of $84.42 and a 1 year high of $189.78. The stock has a market capitalization of $206.56 billion, a PE ratio of 61.87, a PEG ratio of 1.65 and a beta of 1.18. 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 business’s 50-day moving average is $169.27 and its 200 day moving average is $170.43.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share 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 for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the previous year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts forecast that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.59%. General Electric’s payout ratio is 36.72%.

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.