General Electric (NYSE:GE) Position Boosted by Aprio Wealth Management LLC

Aprio Wealth Management LLC increased its holdings in shares of General Electric (NYSE:GE) by 33.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,703 shares of the conglomerate’s stock after acquiring an additional 429 shares during the quarter. Aprio Wealth Management LLC’s holdings in General Electric were worth $321,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after acquiring an additional 550,996 shares during the period. Capital International Investors increased its stake in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the period. Newport Trust Company LLC acquired a new stake in shares of General Electric in the second quarter valued at approximately $2,613,332,000. Capital World Investors increased its stake in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after purchasing an additional 459,201 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 0.8 %

General Electric stock opened at $187.47 on Wednesday. The firm has a market cap of $205.21 billion, a price-to-earnings ratio of 61.47, 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 current ratio of 1.14 and a quick ratio of 0.85. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $190.88. The firm has a fifty day moving average price of $173.84 and a two-hundred day moving average price of $166.13.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping 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 firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the business earned $0.68 EPS. The business’s revenue was up 3.9% on a year-over-year basis. As a group, analysts forecast that General Electric will post 4.2 earnings per share 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 issued 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 payout ratio is 36.72%.

Analysts Set New Price Targets

Several equities research analysts have commented on GE shares. Royal Bank of Canada raised their price target on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company raised their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Jefferies Financial Group raised their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, UBS Group raised their target price on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company 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.