Forte Capital LLC ADV Has $957,000 Stock Position in General Electric (NYSE:GE)

Forte Capital LLC ADV lifted its position in General Electric (NYSE:GE) by 18.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,076 shares of the conglomerate’s stock after acquiring an additional 802 shares during the period. Forte Capital LLC ADV’s holdings in General Electric were worth $957,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norden Group LLC bought a new stake in General Electric in the first quarter valued at approximately $234,000. GSA Capital Partners LLP boosted its position in General Electric by 186.6% during the first quarter. GSA Capital Partners LLP now owns 6,082 shares of the conglomerate’s stock worth $1,068,000 after purchasing an additional 3,960 shares during the period. Advisory Alpha LLC acquired a new position in shares of General Electric in the first quarter valued at $281,000. Advisory Services Network LLC raised its position in shares of General Electric by 15.8% in the first quarter. Advisory Services Network LLC now owns 43,060 shares of the conglomerate’s stock valued at $7,558,000 after purchasing an additional 5,888 shares during the period. Finally, Empirical Finance LLC lifted its stake in shares of General Electric by 3.5% during the 1st quarter. Empirical Finance LLC now owns 39,263 shares of the conglomerate’s stock worth $6,892,000 after buying an additional 1,311 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Royal Bank of Canada lowered their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Sanford C. Bernstein increased their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Bank of America boosted their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two 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 presently has an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Performance

NYSE:GE opened at $180.80 on Thursday. General Electric has a twelve month low of $88.68 and a twelve month high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock’s 50-day simple moving average is $180.47 and its 200 day simple moving average is $169.59. The firm has a market capitalization of $195.68 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19.

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

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is 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.