General Electric (NYSE:GE) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its position in shares of General Electric (NYSE:GE - Free Report) by 10.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 603,988 shares of the conglomerate's stock after purchasing an additional 57,372 shares during the period. Mackenzie Financial Corp owned about 0.06% of General Electric worth $96,016,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Studio Investment Management LLC increased its stake in 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 purchasing an additional 78 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in General Electric during the 2nd quarter worth $31,000. Richardson Financial Services Inc. purchased a new stake in General Electric in the first quarter valued at $34,000. Financial Connections Group Inc. acquired a new position in General Electric in the second quarter valued at $32,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of General Electric during the first quarter worth about $37,000. Institutional investors and hedge funds own 74.77% of the company's stock.

General Electric Stock Performance

Shares of GE stock traded up $0.79 during trading hours on Friday, reaching $185.38. 4,452,842 shares of the company's stock were exchanged, compared to its average volume of 6,576,920. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The company's 50 day moving average is $171.51 and its two-hundred day moving average is $170.08. The company has a market cap of $202.92 billion, a P/E ratio of 60.78, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. General Electric has a 1 year low of $84.42 and a 1 year high of $190.88.

General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to analysts' expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric's revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 earnings per share. Equities research analysts anticipate that General Electric will post 4.2 EPS 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. Shareholders 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 annualized dividend and a yield of 0.60%. General Electric's payout ratio is currently 36.72%.

Analyst Upgrades and Downgrades

GE has been the subject of several research reports. StockNews.com downgraded General Electric from a "buy" rating to a "hold" rating in a report on Monday, July 29th. Jefferies Financial Group increased their price objective on General Electric from $185.00 to $190.00 and gave the company a "buy" rating in a report on Friday, June 28th. UBS Group lifted their target price on shares of General Electric from $201.00 to $209.00 and gave the company a "buy" rating in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft increased their price target on shares of General Electric from $210.00 to $212.00 and gave the stock a "buy" rating in a research note on Friday, September 20th. Finally, Royal Bank of Canada lifted their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an "outperform" rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $191.36.

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.