Highland Capital Management LLC Has $3.48 Million Stock Position in General Electric (NYSE:GE)

Highland Capital Management LLC grew its position in General Electric (NYSE:GE) by 88.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,443 shares of the conglomerate’s stock after purchasing an additional 8,667 shares during the period. Highland Capital Management LLC’s holdings in General Electric were worth $3,478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Studio Investment Management LLC raised its holdings in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in General Electric during the third quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in General Electric during the third quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric in the second quarter worth about $31,000. Finally, Financial Connections Group Inc. bought a new stake in shares of General Electric during the 2nd quarter worth about $32,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Down 0.4 %

NYSE GE opened at $179.10 on Friday. General Electric has a twelve month low of $84.58 and a twelve month high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a market cap of $194.20 billion, a PE ratio of 31.48, a PEG ratio of 1.74 and a beta of 1.18. The firm has a 50-day simple moving average of $179.90 and a 200 day simple moving average of $168.48.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $0.82 EPS. On average, research analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GE shares. Bank of America raised their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday. Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Citigroup upped their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays lifted their target price 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. Finally, UBS Group upped their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.93.

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.