Hanseatic Management Services Inc. Acquires 333 Shares of General Electric (NYSE:GE)

Hanseatic Management Services Inc. increased its holdings in shares of General Electric (NYSE:GE) by 5.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,471 shares of the conglomerate’s stock after purchasing an additional 333 shares during the period. General Electric comprises approximately 1.7% of Hanseatic Management Services Inc.’s holdings, making the stock its 16th largest holding. Hanseatic Management Services Inc.’s holdings in General Electric were worth $1,220,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mackenzie Financial Corp raised its stake in shares of General Electric by 10.5% in the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after purchasing an additional 57,372 shares during the period. Marietta Investment Partners LLC bought a new stake in General Electric in the 2nd quarter valued at approximately $1,569,000. GAMMA Investing LLC lifted its stake in General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after acquiring an additional 3,442 shares in the last quarter. Senator Investment Group LP acquired a new position in General Electric during the 2nd quarter worth approximately $34,973,000. Finally, Blair William & Co. IL raised its holdings in shares of General Electric by 4.4% in the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after purchasing an additional 7,670 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of GE stock opened at $180.80 on Thursday. The company has a market capitalization of $195.68 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 1.70 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a 52 week low of $88.68 and a 52 week high of $194.80. The company has a 50-day simple moving average of $180.47 and a 200 day simple moving average of $169.59.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the firm posted $0.82 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts predict that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 19.68%.

Analyst Upgrades and Downgrades

GE has been the subject of a number of analyst reports. Bank of America raised their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. UBS Group raised their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Melius Research upped their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Royal Bank of Canada decreased their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.