Wealth Effects LLC Increases Stake in General Electric (NYSE:GE)

Wealth Effects LLC grew its stake in General Electric (NYSE:GE) by 8.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,298 shares of the conglomerate’s stock after buying an additional 187 shares during the quarter. Wealth Effects LLC’s holdings in General Electric were worth $433,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions 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 stake in shares of General Electric in the second quarter valued at approximately $31,000. Financial Connections Group Inc. purchased a new stake in shares of General Electric in the second quarter valued at approximately $32,000. Richardson Financial Services Inc. acquired a new position in shares of General Electric during the 1st quarter worth approximately $34,000. Finally, Macroview Investment Management LLC lifted its position in shares of General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group upped their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada boosted their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price of $196.86.

General Electric Trading Down 0.1 %

Shares of NYSE GE traded down $0.10 during midday trading on Monday, reaching $192.51. 1,753,397 shares of the stock were exchanged, compared to its average volume of 6,311,524. General Electric has a twelve month low of $84.58 and a twelve month high of $194.80. The stock has a market capitalization of $210.72 billion, a P/E ratio of 63.31, a PEG ratio of 1.86 and a beta of 1.18. The company has a 50 day simple moving average of $178.51 and a 200 day simple moving average of $167.58. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The company 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 for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. As a group, equities analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently announced 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 0.58%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

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.