Claro Advisors LLC Grows Holdings in General Electric (NYSE:GE)

Claro Advisors LLC grew its stake in shares of General Electric (NYSE:GE) by 48.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,275 shares of the conglomerate’s stock after buying an additional 2,051 shares during the quarter. Claro Advisors LLC’s holdings in General Electric were worth $1,183,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Newport Trust Company LLC purchased a new stake in General Electric during the second quarter valued at about $2,613,332,000. Capital World Investors raised its holdings in shares of General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Capital International Investors lifted its position in General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after buying an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after buying an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in General Electric during the second quarter valued at approximately $580,200,000. 74.77% of the stock is owned by institutional investors.

General Electric Stock Performance

NYSE:GE opened at $192.51 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The firm’s fifty day simple moving average is $178.51 and its 200 day simple moving average is $167.21. The stock has a market cap of $210.72 billion, a P/E ratio of 63.12, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. General Electric has a twelve month low of $84.42 and a twelve month high of $194.80.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, research analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GE shares. UBS Group upped their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Wells Fargo & Company upped their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Sanford C. Bernstein lifted their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Citigroup increased their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Barclays lifted their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $196.86.

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.