Eclectic Associates Inc. ADV Makes New $236,000 Investment in General Electric (NYSE:GE)

Eclectic Associates Inc. ADV bought a new position in General Electric (NYSE:GE) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,251 shares of the conglomerate’s stock, valued at approximately $236,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after buying an additional 550,996 shares in the last quarter. Capital International Investors grew its position in shares of General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after buying an additional 5,309,543 shares in the last quarter. Newport Trust Company LLC bought a new position in shares of General Electric during the 2nd quarter worth $2,613,332,000. Capital World Investors grew its position in shares of General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after buying an additional 459,201 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of GE stock traded up $3.19 during trading hours on Friday, hitting $187.08. 3,978,906 shares of the company’s stock were exchanged, compared to its average volume of 6,511,288. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The firm has a market cap of $204.78 billion, a P/E ratio of 61.32, a P/E/G ratio of 1.87 and a beta of 1.18. The firm has a 50 day moving average of $173.52 and a two-hundred day moving average of $166.17. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $190.88.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 EPS. Sell-side analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GE. Sanford C. Bernstein began coverage on General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday. Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. UBS Group boosted their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Finally, Royal Bank of Canada boosted their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $193.00.

General Electric 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.