Ignite Planners LLC Sells 173 Shares of General Electric (NYSE:GE)

Ignite Planners LLC lessened its stake in shares of General Electric (NYSE:GE) by 5.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,220 shares of the conglomerate’s stock after selling 173 shares during the period. Ignite Planners LLC’s holdings in General Electric were worth $607,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Mackenzie Financial Corp lifted its position in shares of General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after acquiring an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC purchased a new stake in General Electric during the second quarter valued at approximately $1,569,000. Vanguard Group Inc. grew its stake in shares of General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after buying an additional 550,996 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of General Electric by 25.4% during the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after buying an additional 3,442 shares during the last quarter. Finally, Senator Investment Group LP bought a new position in General Electric in the second quarter worth approximately $34,973,000. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GE. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company increased their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. UBS Group raised their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Royal Bank of Canada increased their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Sanford C. Bernstein started coverage on General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $193.00.

General Electric Trading Up 0.8 %

Shares of General Electric stock opened at $187.47 on Wednesday. The firm has a market capitalization of $205.21 billion, a PE ratio of 61.47, a P/E/G ratio of 1.87 and a beta of 1.18. General Electric has a twelve month low of $84.42 and a twelve month high of $190.88. The firm’s 50-day moving average price is $173.84 and its 200 day moving average price is $166.13. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released 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. The business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. On average, sell-side analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared 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. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is presently 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.