Alpha Cubed Investments LLC Grows Stock Position in General Electric (NYSE:GE)

Alpha Cubed Investments LLC increased its holdings in General Electric (NYSE:GE) by 19.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,015 shares of the conglomerate’s stock after acquiring an additional 324 shares during the period. Alpha Cubed Investments LLC’s holdings in General Electric were worth $380,000 at the end of the most recent quarter.

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

General Electric Stock Up 0.8 %

Shares of NYSE GE opened at $187.47 on Wednesday. General Electric has a 1 year low of $84.42 and a 1 year high of $190.88. The company has a market capitalization of $205.21 billion, a price-to-earnings ratio of 61.47, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The business has a 50-day moving average of $173.84 and a two-hundred day moving average of $166.13.

General Electric (NYSE:GE) last posted 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 firm had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. On average, analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors 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 yield of 0.60%. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GE. Jefferies Financial Group boosted 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. UBS Group boosted their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Sanford C. Bernstein assumed coverage on General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price for the company. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Barclays raised their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $193.00.

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.