First Trust Direct Indexing L.P. Acquires 10,404 Shares of General Electric (NYSE:GE)

First Trust Direct Indexing L.P. grew its stake in shares of General Electric (NYSE:GE - Free Report) by 58.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,189 shares of the conglomerate's stock after buying an additional 10,404 shares during the quarter. First Trust Direct Indexing L.P.'s holdings in General Electric were worth $5,316,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GE. Newport Trust Company LLC acquired a new position in shares of General Electric during the second quarter worth $2,613,332,000. Capital World Investors lifted its holdings in General Electric by 2,818.1% during the 1st 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 grew its position 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 valued at $10,373,936,000 after buying an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate's stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of General Electric during the second quarter worth about $580,200,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research firms have weighed in on GE. Deutsche Bank Aktiengesellschaft increased their target price on shares of General Electric from $212.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Barclays increased their price target on General Electric from $175.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, July 30th. Wells Fargo & Company lifted their price objective on General Electric from $205.00 to $210.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Finally, Melius Research upped their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $200.93.

General Electric Stock Up 0.4 %

NYSE GE traded up $0.65 during trading hours on Wednesday, hitting $174.70. The company's stock had a trading volume of 3,691,048 shares, compared to its average volume of 6,345,575. The company has a market capitalization of $189.08 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 52 week low of $84.66 and a 52 week high of $194.80. The company's 50-day simple moving average is $180.07 and its two-hundred day simple moving average is $168.82.

General Electric (NYSE:GE - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the company earned $0.82 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. General Electric's dividend payout ratio is currently 19.68%.

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.