Highview Capital Management LLC DE Purchases New Shares in General Electric (NYSE:GE)

Highview Capital Management LLC DE acquired a new position in General Electric (NYSE:GE) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,883 shares of the conglomerate’s stock, valued at approximately $1,109,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Miracle Mile Advisors LLC grew its holdings in General Electric by 6.6% in the first quarter. Miracle Mile Advisors LLC now owns 2,184 shares of the conglomerate’s stock worth $383,000 after purchasing an additional 135 shares during the period. Norden Group LLC bought a new position in General Electric during the 1st quarter valued at approximately $3,044,000. Massachusetts Wealth Management raised its stake in General Electric by 8.9% during the first quarter. Massachusetts Wealth Management now owns 13,644 shares of the conglomerate’s stock valued at $2,395,000 after buying an additional 1,117 shares during the last quarter. Kovack Advisors Inc. boosted its holdings in General Electric by 5.5% in the first quarter. Kovack Advisors Inc. now owns 10,257 shares of the conglomerate’s stock worth $1,800,000 after acquiring an additional 539 shares in the last quarter. Finally, Cornerstone Wealth Management LLC grew its stake in shares of General Electric by 12.0% in the first quarter. Cornerstone Wealth Management LLC now owns 8,959 shares of the conglomerate’s stock worth $1,573,000 after acquiring an additional 963 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of analyst reports. Bank of America upped their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. UBS Group increased their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays increased their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Citigroup upped their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Trading Down 0.7 %

Shares of General Electric stock opened at $174.13 on Wednesday. General Electric has a fifty-two week low of $84.66 and a fifty-two week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market capitalization of $188.46 billion, a P/E ratio of 30.60, a P/E/G ratio of 1.74 and a beta of 1.18. The company has a fifty day moving average of $180.07 and a 200 day moving average of $168.82.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

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.