Axiom Advisory LLC Buys 115 Shares of General Electric (NYSE:GE)

Axiom Advisory LLC grew its stake in General Electric (NYSE:GE) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,224 shares of the conglomerate’s stock after purchasing an additional 115 shares during the quarter. Axiom Advisory LLC’s holdings in General Electric were worth $797,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alpha Cubed Investments LLC raised its position in shares of General Electric by 19.2% in the 3rd quarter. Alpha Cubed Investments LLC now owns 2,015 shares of the conglomerate’s stock worth $380,000 after acquiring an additional 324 shares in the last quarter. Cardinal Point Capital Management ULC bought a new position in General Electric in the third quarter worth $238,000. Kesler Norman & Wride LLC purchased a new position in General Electric during the third quarter valued at $284,000. Callan Family Office LLC bought a new stake in shares of General Electric during the 3rd quarter valued at $210,000. Finally, Aprio Wealth Management LLC grew its position in shares of General Electric by 33.7% in the 3rd quarter. Aprio Wealth Management LLC now owns 1,703 shares of the conglomerate’s stock worth $321,000 after buying an additional 429 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GE has been the subject of a number of recent research reports. Jefferies Financial Group lifted their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada upped 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. Barclays lifted their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $193.00.

General Electric Stock Performance

Shares of NYSE GE opened at $187.47 on Wednesday. The firm’s 50-day moving average price is $173.84 and its 200-day moving average price is $166.13. General Electric has a 52-week low of $84.42 and a 52-week high of $190.88. The company has a market cap of $205.21 billion, a PE ratio of 61.47, a PEG ratio of 1.87 and a beta of 1.18. 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 (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.68 earnings per share. As a group, analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

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.