Traynor Capital Management Inc. Increases Holdings in General Electric (NYSE:GE)

Traynor Capital Management Inc. increased its holdings in shares of General Electric (NYSE:GE) by 18.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,903 shares of the conglomerate’s stock after purchasing an additional 295 shares during the quarter. Traynor Capital Management Inc.’s holdings in General Electric were worth $359,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GE. Tsfg LLC boosted its holdings in shares of General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after purchasing an additional 55 shares during the last quarter. Macroview Investment Management LLC lifted its position in shares of General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after buying an additional 58 shares in the last quarter. Strategic Advisors LLC boosted its stake in General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after buying an additional 58 shares during the last quarter. Allegheny Financial Group LTD grew its holdings in General Electric by 1.4% during the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after buying an additional 61 shares in the last quarter. Finally, New England Research & Management Inc. increased its stake in General Electric by 2.2% in the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of a number of recent research reports. Royal Bank of Canada cut their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Bank of America lifted their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Citigroup increased their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, UBS Group upped their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Performance

Shares of General Electric stock opened at $174.13 on Wednesday. General Electric has a 52 week low of $84.66 and a 52 week high of $194.80. The company has a market capitalization of $188.46 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. The stock’s fifty day moving average is $180.07 and its two-hundred day moving average is $168.82. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is presently 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.