ARK Investment Management LLC Has $1.85 Million Stake in General Electric (NYSE:GE)

ARK Investment Management LLC cut its holdings in General Electric (NYSE:GE - Free Report) by 27.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,633 shares of the conglomerate's stock after selling 4,486 shares during the period. ARK Investment Management LLC's holdings in General Electric were worth $1,849,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GE. Citizens Financial Group Inc. RI lifted its stake in General Electric by 16.9% in the fourth quarter. Citizens Financial Group Inc. RI now owns 4,507 shares of the conglomerate's stock valued at $575,000 after buying an additional 651 shares during the last quarter. Addison Advisors LLC boosted its stake in General Electric by 16.1% during the 4th quarter. Addison Advisors LLC now owns 2,063 shares of the conglomerate's stock valued at $263,000 after purchasing an additional 286 shares during the period. Valmark Advisers Inc. grew its position in General Electric by 30.7% in the 4th quarter. Valmark Advisers Inc. now owns 6,859 shares of the conglomerate's stock worth $875,000 after purchasing an additional 1,611 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of General Electric by 11.2% in the fourth quarter. Russell Investments Group Ltd. now owns 370,780 shares of the conglomerate's stock valued at $47,358,000 after purchasing an additional 37,256 shares during the period. Finally, Principle Wealth Partners LLC raised its holdings in shares of General Electric by 0.7% during the fourth quarter. Principle Wealth Partners LLC now owns 20,566 shares of the conglomerate's stock valued at $2,625,000 after buying an additional 150 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GE shares. Royal Bank of Canada increased their price objective on General Electric from $175.00 to $190.00 and gave the stock an "outperform" rating in a report on Wednesday, July 24th. Wells Fargo & Company raised their price target on General Electric from $192.00 to $205.00 and gave the company an "overweight" rating in a report on Wednesday, July 24th. Barclays upped their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, July 30th. UBS Group raised their target price 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. Finally, JPMorgan Chase & Co. upped their price objective on General Electric from $148.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $190.38.

General Electric Stock Down 0.1 %

NYSE GE traded down $0.23 on Tuesday, reaching $170.99. The stock had a trading volume of 3,205,616 shares, compared to its average volume of 6,794,093. General Electric has a 1 year low of $84.42 and a 1 year high of $177.20. The business has a 50 day moving average price of $164.55 and a 200 day moving average price of $161.91. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $187.17 billion, a price-to-earnings ratio of 56.06, a P/E/G ratio of 1.70 and a beta of 1.21.

General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm's revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 earnings per share. On average, analysts forecast that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric's payout ratio is presently 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.