1,072 Shares in General Electric (NYSE:GE) Purchased by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC acquired a new stake in General Electric (NYSE:GE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,072 shares of the conglomerate’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Studio Investment Management LLC raised its stake 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 buying an additional 78 shares during the period. MFA Wealth Advisors LLC bought a new stake in General Electric in the second quarter valued at approximately $31,000. Kapitalo Investimentos Ltda bought a new stake in General Electric in the fourth quarter valued at approximately $32,000. Financial Connections Group Inc. bought a new stake in General Electric in the second quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. bought a new stake in General Electric in the first quarter valued at approximately $34,000. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GE. Sanford C. Bernstein initiated coverage on General Electric in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price objective on the stock. 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 research report on Wednesday, July 24th. Wells Fargo & Company upped their target price on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group upped their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average target price of $193.00.

General Electric Price Performance

Shares of GE stock traded up $0.83 during trading hours on Wednesday, reaching $188.30. The company’s stock had a trading volume of 440,238 shares, compared to its average volume of 6,444,870. The firm’s 50 day simple moving average is $174.24 and its 200-day simple moving average is $166.21. The company has a market capitalization of $206.11 billion, a price-to-earnings ratio of 61.47, a PEG ratio of 1.87 and a beta of 1.18. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $190.88. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion for 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 company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. Sell-side analysts forecast that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is presently 36.72%.

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.