General Electric (NYSE:GE) Shares Bought by nVerses Capital LLC

nVerses Capital LLC grew its stake in General Electric (NYSE:GE) by 17.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,500 shares of the conglomerate’s stock after purchasing an additional 800 shares during the quarter. General Electric makes up approximately 0.5% of nVerses Capital LLC’s holdings, making the stock its 25th biggest holding. nVerses Capital LLC’s holdings in General Electric were worth $1,037,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Newport Trust Company LLC acquired a new position in shares of General Electric in the 2nd quarter valued at about $2,613,332,000. Capital World Investors increased its position in General Electric by 2,818.1% in the first 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 period. Capital International Investors boosted its holdings in shares of General Electric by 9.9% during the first 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 grew its position in shares of General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after acquiring an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of General Electric in the 2nd quarter worth about $580,200,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 0.5 %

NYSE GE traded up $1.03 during trading on Thursday, reaching $193.21. 627,376 shares of the company’s stock were exchanged, compared to its average volume of 6,340,319. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $194.63. The company’s fifty day simple moving average is $177.46 and its 200-day simple moving average is $166.91. The firm has a market capitalization of $211.49 billion, a PE ratio of 63.32, a P/E/G ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate 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 prior year, the business earned $0.68 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The firm also recently disclosed 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. This represents a $1.12 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s payout ratio is presently 36.72%.

Wall Street Analyst Weigh In

Several analysts recently commented on GE shares. Barclays raised their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Citigroup raised their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada increased their target price on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Sanford C. Bernstein boosted their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.