General Electric (NYSE:GE) Shares Acquired by Synergy Asset Management LLC

Synergy Asset Management LLC raised its position in General Electric (NYSE:GE - Free Report) by 293.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,149 shares of the conglomerate's stock after buying an additional 6,077 shares during the period. Synergy Asset Management LLC's holdings in General Electric were worth $1,295,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Capital World Investors lifted its stake 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 purchasing an additional 12,312,648 shares in the last quarter. Norges Bank acquired a new position in General Electric during the fourth quarter worth $1,193,159,000. Capital International Investors increased its stake in shares of 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 acquiring an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board raised 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 worth $1,250,079,000 after acquiring an additional 4,907,530 shares during the period. Finally, Evergreen Quality Fund GP Ltd. purchased a new position in General Electric during the first quarter worth about $385,745,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Down 1.6 %

NYSE GE traded down $2.58 during trading hours on Friday, hitting $161.27. 3,954,571 shares of the company were exchanged, compared to its average volume of 6,700,422. The company has a 50 day moving average of $165.78 and a two-hundred day moving average of $163.18. 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 has a market cap of $176.53 billion, a price-to-earnings ratio of 52.88, a PEG ratio of 1.73 and a beta of 1.18. General Electric has a 52-week low of $84.42 and a 52-week high of $177.20.

General Electric (NYSE:GE - Get Free Report) last issued its earnings results 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 analysts' expectations of $8.44 billion. During the same quarter last year, the company earned $0.68 earnings per share. The firm's revenue was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. General Electric's payout ratio is currently 36.72%.

Analyst Ratings Changes

Several analysts have recently weighed in on GE shares. StockNews.com cut shares of General Electric from a "buy" rating to a "hold" rating in a research note on Monday, July 29th. Royal Bank of Canada raised their target price on General Electric from $175.00 to $190.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on General Electric from $148.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, May 13th. UBS Group raised their price objective on General Electric from $201.00 to $209.00 and gave the stock a "buy" rating in a research report on Monday, July 1st. Finally, Barclays upped their target price on shares of General Electric from $175.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, General Electric presently has a consensus rating of "Moderate Buy" and an average price target of $190.38.

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.