Strategic Advisors LLC Boosts Stock Position in General Electric (NYSE:GE)

Strategic Advisors LLC raised its position in shares of General Electric (NYSE:GE) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,267 shares of the conglomerate’s stock after purchasing an additional 58 shares during the quarter. Strategic Advisors LLC’s holdings in General Electric were worth $428,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Studio Investment Management LLC raised its holdings in General Electric by 97.5% in 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 period. MFA Wealth Advisors LLC purchased a new position in shares of General Electric in the second quarter valued at approximately $31,000. Kapitalo Investimentos Ltda purchased a new position in General Electric during the fourth quarter worth approximately $32,000. Financial Connections Group Inc. purchased a new position in General Electric during the second quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. purchased a new position in General Electric during the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.4 %

GE traded down $0.68 on Thursday, hitting $188.60. 888,658 shares of the company were exchanged, compared to its average volume of 6,425,864. The company has a market cap of $206.44 billion, a price-to-earnings ratio of 61.63, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average price of $174.62 and a two-hundred day moving average price of $166.37. General Electric has a twelve month low of $84.42 and a twelve month high of $190.88.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The company had revenue of $9.09 billion during 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%. General Electric’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 EPS. On average, equities analysts predict 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. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.59%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is presently 36.72%.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of analyst reports. Barclays lifted their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada raised their target price on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. UBS Group lifted their price objective on 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 price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $193.00.

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.