General Electric (NYSE:GE) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its stake in shares of General Electric (NYSE:GE) by 37.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 463,645 shares of the conglomerate’s stock after purchasing an additional 126,523 shares during the period. DekaBank Deutsche Girozentrale’s holdings in General Electric were worth $83,388,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of GE. Criterion Capital Advisors LLC bought a new stake in shares of General Electric during the 4th quarter valued at about $27,000. Capital Analysts LLC grew its holdings in shares of General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares during the last quarter. Bfsg LLC bought a new position in shares of General Electric during the fourth quarter valued at approximately $32,000. Kapitalo Investimentos Ltda acquired a new stake in shares of General Electric during the 4th quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of General Electric in 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 General Electric stock traded down $9.47 during trading on Friday, reaching $160.28. The company’s stock had a trading volume of 8,210,692 shares, compared to its average volume of 6,157,757. The business’s fifty day moving average price is $162.83 and its 200-day moving average price is $157.62. General Electric has a one year low of $84.42 and a one year high of $177.20. The firm has a market cap of $173.79 billion, a price-to-earnings ratio of 52.51, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21. 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 (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) 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%. General Electric’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. As a group, equities research analysts predict that General Electric will post 4.15 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Royal Bank of Canada boosted 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. JPMorgan Chase & Co. lifted their price objective on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $185.71.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the sale, the senior vice president now owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.66% of the company’s stock.

About General Electric

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.