On September 19, 2023, Advisory Resource Group revealed that it had acquired a new position in shares of General Electric (NYSE:GE) during the second quarter. According to the company’s most recent Form 13F filing with the Securities & Exchange Commission, Advisory Resource Group purchased 1,906 shares of General Electric’s stock, which were valued at approximately $209,000.
Various equities research analysts have also weighed in on General Electric’s stock. Jefferies Financial Group, for instance, raised their price target from $120.00 to $130.00 and gave the company a “buy” rating in a research note issued on July 17th. Similarly, Barclays increased their target price on General Electric from $125.00 to $131.00 and assigned the stock an “overweight” rating in their research report released on July 25th. Morgan Stanley also raised their target price from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report issued on August 10th.
Furthermore, Bank of America increased their target price from $108.00 to $120.00 in a research report published on July 6th, while Citigroup raised their target price from $126.00 to $135.00 and assigned the stock a “buy” rating in a research report released on July 27th. As per Bloomberg data, out of all investment analysts covering General Electric’s stock, four have given it a hold rating and ten have given it a buy rating so far. The overall consensus rating for the company appears to be “Moderate Buy,” with an average price target of $120.00.
General Electric began trading at $116.56 on Tuesday, September 19th. The company has seen its stock fluctuate between its fifty-two week low of $48.06 and its fifty-two week high of $117.96. With a market capitalization of $126.86 billion, General Electric currently has a price-to-earnings (PE) ratio of 13.83, a price-to-earnings-growth (PEG) ratio of 7.21, and a beta of 1.28. Moreover, the firm’s 50-day simple moving average stands at $112.98, while its 200-day simple moving average is at $104.05. General Electric maintains a debt-to-equity ratio of 0.61, along with a quick ratio of 0.90 and a current ratio of 1.25.
In conclusion, Advisory Resource Group’s purchase of shares in General Electric reflects their confidence in the company’s performance and future growth potential. With positive recommendations from various equities research analysts and a consensus rating of “Moderate Buy,” General Electric seems to be well-positioned to continue attracting investor interest and potentially delivering strong returns
ACI Worldwide, Inc.
ACIW
Buy
Updated on: 19/09/2023
Financial Health
Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Major Institutional Investors Show Confidence in General Electric’s Growth Potential
In recent months, several hedge funds and institutional investors have been actively buying and selling shares of General Electric (GE), a global conglomerate known for its diverse range of products and services. FMR LLC, one of the well-known hedge funds, increased its stake in GE by 5.7% during the first quarter of this year. This resulted in FMR LLC owning a total of 63,795,835 shares valued at $6,098,882,000 after purchasing an additional 3,463,502 shares in the last quarter.
State Street Corp also significantly increased its stake in GE during the same period. With a boost of 17.3%, State Street Corp now owns 48,490,012 shares valued at $4,639,533,000 after acquiring an additional 7,157,356 shares in the last quarter. This highlights the confidence that major institutional investors have in GE’s potential for growth.
Another notable player in this regard is TCI Fund Management Ltd., which bought a new stake in GE during the first quarter worth $2,496,379,000. Similarly, Geode Capital Management LLC increased its stake by 1.7% and now owns 19,272,027 shares valued at $1,837,514,000 after acquiring an additional 319,196 shares.
One particularly staggering increase was recorded by Moneta Group Investment Advisors LLC during the fourth quarter where they saw their stake in GE surge by an unprecedented increase of over 122 thousand percent. As a result of this surge they own a total of 13 million shares valued at $878 million after purchasing an additional 13 million shares.
Interestingly enough it has been noted that institutional investors hold around 74.83% of GE’s stock highlighting their significant influence on the company’s performance.
Moreover,
recently reported news revealed that General Electric Pension Trust – a major shareholder invested heavily into buying 35,160 shares of GE’s stock in a transaction that took place on June 30th. With an average cost per share of $995.44, the transaction summed up to be worth a staggering $34,999,670.40. Following this purchase, the stakeholder now directly owns 175,160 shares with an estimated total value of $174,361,270.40.
In addition to this major investment by General Electric Pension Trust, another large-scale acquisition was disclosed where SVP Michael J. Holston sold 112,614 shares of GE’s stock at an average price of $115.20 per share marking a total transaction value of approximately $12,973,132.80.
It is certainly noteworthy that corporate insiders currently own only 0.67% of GE’s stock.
While several equities research analysts have weighed in on the stock and provided their insights into its performance and potential, Bloomberg data reveals that there is no definitive consensus rating for the company’s stock at present.
General Electric recently released its earnings report for the quarter ending July 25th revealing earnings per share (EPS) of $0.68 which exceeded analysts’ consensus estimates of $0.46 by a significant margin ($0.22). The conglomerate also reported revenue figures for the said period amounting to $15.85 billion compared to analysts’ expectations of approximately $14.76 billion. The company’s net margin stood at 13.32% and return on equity registered at 9.30%. Overall quarterly revenue demonstrated a healthy increase of 18.6% on a year-over-year basis.
Projections made by several research analysts suggest that General Electric will post EPS figures of around 2.29 during the current fiscal year highlighting positive prospects for future growth.
As part of their commitment towards rewarding their shareholders,
GE recently announced their plans to pay out another quarterly dividend which will be distributed to shareholders of record on September 26th. The dividend, amounting to $0.32 on an annualized basis, translates into a yield of approximately 0.27%. The ex-dividend date has been set for September 25th.
General Electric’s current payout ratio stands at a conservative 3.80%. This demonstrates the company’s approach of striking a balance between providing returns to its shareholders and reinvesting in growth opportunities.
As we evaluate General Electric’s recent news and developments, it becomes increasingly clear that this global conglomerate is being closely monitored by notable investors and research analysts alike. With the company’s optimistic earnings report and positive prospects for future growth, it will be interesting to see how General Electric continues to navigate its way in the market moving forward
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