General Electric (NYSE:GE) Shares Bought by Park Place Capital Corp

Park Place Capital Corp grew its position in shares of General Electric (NYSE:GE) by 133.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 437 shares of the conglomerate’s stock after purchasing an additional 250 shares during the quarter. Park Place Capital Corp’s holdings in General Electric were worth $82,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Traveka Wealth LLC increased its position in shares of General Electric by 7.4% during the 3rd quarter. Traveka Wealth LLC now owns 1,504 shares of the conglomerate’s stock valued at $284,000 after purchasing an additional 103 shares during the period. Insight Wealth Strategies LLC acquired a new position in shares of General Electric in the 3rd quarter worth $203,000. Legacy Private Trust Co. grew its holdings in shares of General Electric by 330.2% in the 3rd quarter. Legacy Private Trust Co. now owns 19,454 shares of the conglomerate’s stock worth $3,669,000 after acquiring an additional 14,932 shares during the last quarter. Axiom Advisory LLC grew its holdings in shares of General Electric by 2.8% in the 3rd quarter. Axiom Advisory LLC now owns 4,224 shares of the conglomerate’s stock worth $797,000 after acquiring an additional 115 shares during the last quarter. Finally, Alpha Cubed Investments LLC grew its holdings in shares of General Electric by 19.2% in the 3rd quarter. Alpha Cubed Investments LLC now owns 2,015 shares of the conglomerate’s stock worth $380,000 after acquiring an additional 324 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on GE. Deutsche Bank Aktiengesellschaft lifted their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. 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 report on Friday, June 28th. Sanford C. Bernstein started coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price on the stock. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada lifted their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a 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 company. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $193.00.

General Electric Price Performance

GE opened at $187.47 on Wednesday. The stock has a market cap of $205.21 billion, a price-to-earnings ratio of 61.47, a PEG ratio of 1.87 and a beta of 1.18. General Electric has a 1 year low of $84.42 and a 1 year high of $190.88. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average price of $173.84 and a 200 day moving average price of $166.13.

General Electric (NYSE:GE) last announced its quarterly 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 return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Analysts forecast 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 given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.60%. General Electric’s dividend payout ratio is currently 36.72%.

General Electric Company 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.