International Assets Investment Management LLC Acquires 3,158,153 Shares of General Electric (NYSE:GE)

International Assets Investment Management LLC boosted its holdings in shares of General Electric (NYSE:GE) by 21,069.8% in the third quarter, Holdings Channel reports. The firm owned 3,173,142 shares of the conglomerate’s stock after purchasing an additional 3,158,153 shares during the quarter. International Assets Investment Management LLC’s holdings in General Electric were worth $598,391,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Toth Financial Advisory Corp bought a new position in shares of General Electric in the third quarter valued at approximately $25,000. Studio Investment Management LLC raised its stake in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. MFA Wealth Advisors LLC bought a new position in shares of General Electric in the second quarter valued at approximately $31,000. Richardson Financial Services Inc. bought a new position in shares of General Electric in the first quarter valued at approximately $34,000. Finally, Financial Connections Group Inc. bought a new position in shares of General Electric in the second quarter valued at approximately $32,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GE. Barclays lifted their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein lifted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Citigroup raised their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Bank of America raised their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Price Performance

GE opened at $181.78 on Thursday. The company has a fifty day moving average price of $179.51 and a two-hundred day moving average price of $168.15. 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 has a 52 week low of $84.58 and a 52 week high of $194.80. The firm has a market capitalization of $198.98 billion, a PE ratio of 59.60, a P/E/G ratio of 1.86 and a beta of 1.18.

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

General Electric Announces Dividend

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 issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 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.