Investment Research & Advisory Group Inc. Purchases 512 Shares of General Electric (NYSE:GE)

Investment Research & Advisory Group Inc. lifted its position in shares of General Electric (NYSE:GE) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,893 shares of the conglomerate’s stock after acquiring an additional 512 shares during the period. General Electric makes up approximately 1.2% of Investment Research & Advisory Group Inc.’s portfolio, making the stock its 29th largest position. Investment Research & Advisory Group Inc.’s holdings in General Electric were worth $2,809,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Bank of America raised their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Citigroup raised their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company upped their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Trading Down 1.1 %

Shares of General Electric stock opened at $179.64 on Friday. General Electric has a fifty-two week low of $84.58 and a fifty-two week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The company has a market capitalization of $196.64 billion, a P/E ratio of 58.90, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a fifty day moving average of $179.51 and a 200 day moving average of $168.15.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 earnings per share. On average, sell-side analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors 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 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s dividend payout ratio is 36.72%.

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.