ASB Consultores LLC Boosts Holdings in General Electric (NYSE:GE)

ASB Consultores LLC grew its position in General Electric (NYSE:GE) by 28.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,030 shares of the conglomerate’s stock after purchasing an additional 662 shares during the quarter. ASB Consultores LLC’s holdings in General Electric were worth $571,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. James J. Burns & Company LLC purchased a new stake in shares of General Electric during the third quarter valued at $211,000. Clarity Capital Partners LLC increased its holdings in shares of General Electric by 14.8% in the third quarter. Clarity Capital Partners LLC now owns 1,507 shares of the conglomerate’s stock valued at $284,000 after purchasing an additional 194 shares during the period. FSM Wealth Advisors LLC raised its stake in shares of General Electric by 4.9% in the third quarter. FSM Wealth Advisors LLC now owns 5,257 shares of the conglomerate’s stock worth $991,000 after purchasing an additional 245 shares during the last quarter. Catalyst Capital Advisors LLC boosted its position in General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after buying an additional 146 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its holdings in General Electric by 13.7% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 2,069 shares of the conglomerate’s stock worth $390,000 after buying an additional 249 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GE. UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada cut their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report 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 MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

General Electric stock opened at $171.76 on Tuesday. The company has a fifty day simple moving average of $180.21 and a 200-day simple moving average of $169.32. The firm has a market capitalization of $185.89 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 1.70 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 52-week low of $86.83 and a 52-week high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 EPS. On average, equities analysts anticipate that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. General Electric’s dividend payout ratio 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.