Thrive Wealth Management LLC Purchases New Holdings in General Electric (NYSE:GE)

Thrive Wealth Management LLC acquired a new position in shares of General Electric (NYSE:GE) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 1,139 shares of the conglomerate’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Studio Investment Management LLC lifted its position in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the period. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric in the second quarter valued at approximately $31,000. Kapitalo Investimentos Ltda purchased a new stake in shares of General Electric during the 4th quarter worth $32,000. Financial Connections Group Inc. acquired a new position in shares of General Electric during the 2nd quarter worth $32,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of General Electric in the 1st quarter valued at about $34,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada upped their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. UBS Group increased their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, Wells Fargo & Company lifted their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $193.00.

General Electric Trading Up 1.7 %

General Electric stock traded up $3.19 during trading on Friday, hitting $187.08. The company’s stock had a trading volume of 3,978,906 shares, compared to its average volume of 6,511,288. The stock’s fifty day moving average is $173.52 and its 200 day moving average is $166.17. General Electric has a 1-year low of $84.42 and a 1-year high of $190.88. The stock has a market capitalization of $204.78 billion, a price-to-earnings ratio of 61.32, a P/E/G ratio of 1.87 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the company posted $0.68 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities research analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

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

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.