Grandfield & Dodd LLC Acquires 58,022 Shares of General Electric (NYSE:GE)

Grandfield & Dodd LLC grew its holdings in shares of General Electric (NYSE:GE - Free Report) by 30.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,785 shares of the conglomerate's stock after acquiring an additional 58,022 shares during the period. General Electric comprises approximately 2.0% of Grandfield & Dodd LLC's holdings, making the stock its 16th largest position. Grandfield & Dodd LLC's holdings in General Electric were worth $27,282,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. D1 Capital Partners L.P. boosted its holdings in General Electric by 159.8% in the 2nd quarter. D1 Capital Partners L.P. now owns 1,455,000 shares of the conglomerate's stock worth $159,832,000 after buying an additional 895,000 shares during the period. Hoey Investments Inc. lifted its stake in General Electric by 51,152.3% in the 3rd quarter. Hoey Investments Inc. now owns 22,551 shares of the conglomerate's stock worth $2,493,000 after purchasing an additional 22,507 shares in the last quarter. Radnor Capital Management LLC purchased a new stake in General Electric in the 3rd quarter worth $3,057,000. Cerity Partners LLC lifted its stake in General Electric by 92.4% in the 2nd quarter. Cerity Partners LLC now owns 160,617 shares of the conglomerate's stock worth $17,644,000 after purchasing an additional 77,116 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in General Electric by 17.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 986,651 shares of the conglomerate's stock worth $108,384,000 after purchasing an additional 143,138 shares in the last quarter. Institutional investors own 74.83% of the company's stock.

General Electric Trading Up 1.3 %

GE stock traded up $1.63 during mid-day trading on Friday, reaching $126.29. The company had a trading volume of 3,340,531 shares, compared to its average volume of 3,937,674. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.17 and a quick ratio of 0.82. The company has a market capitalization of $137.45 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 2.08 and a beta of 1.35. The firm has a 50 day moving average of $120.02 and a 200 day moving average of $114.29. General Electric has a 12 month low of $70.75 and a 12 month high of $129.20.

General Electric (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.26. The business had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $15.46 billion. General Electric had a net margin of 14.38% and a return on equity of 11.10%. The company's revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. On average, equities analysts predict that General Electric will post 2.65 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Thursday, December 28th will be paid a dividend of $0.08 per share. The ex-dividend date is Wednesday, December 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. General Electric's dividend payout ratio is presently 3.61%.

Analyst Ratings Changes

Several brokerages have commented on GE. Citigroup boosted their price target on shares of General Electric from $135.00 to $148.00 and gave the stock a "buy" rating in a research note on Monday, December 11th. Royal Bank of Canada upped their target price on shares of General Electric from $131.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, December 18th. Deutsche Bank Aktiengesellschaft began coverage on shares of General Electric in a research report on Wednesday, September 27th. They set a "buy" rating and a $141.00 target price on the stock. TheStreet cut shares of General Electric from a "b-" rating to a "c" rating in a research report on Tuesday, October 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of General Electric from $124.00 to $136.00 and gave the company a "neutral" rating in a research report on Wednesday, December 20th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $130.43.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

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