General Electric (NYSE:GE) Shares Purchased by Park Edge Advisors LLC

Park Edge Advisors LLC boosted its stake in General Electric (NYSE:GE) by 1.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 7,842 shares of the conglomerate’s stock after purchasing an additional 130 shares during the period. Park Edge Advisors LLC’s holdings in General Electric were worth $1,479,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Studio Investment Management LLC increased its stake in General Electric by 97.5% during the second 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. Toth Financial Advisory Corp purchased a new stake in General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric during the 3rd quarter worth approximately $27,000. MFA Wealth Advisors LLC purchased a new position in General Electric in the 2nd quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. purchased a new position in General Electric in the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GE shares. Wells Fargo & Company increased their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America boosted their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Barclays boosted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Down 0.4 %

Shares of NYSE GE traded down $0.64 during mid-day trading on Friday, reaching $179.10. The company had a trading volume of 3,974,941 shares, compared to its average volume of 4,120,726. General Electric has a 52-week low of $84.58 and a 52-week high of $194.80. The stock has a market cap of $194.20 billion, a P/E ratio of 31.48, a PEG ratio of 1.74 and a beta of 1.18. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a 50 day simple moving average of $179.90 and a two-hundred day simple moving average of $168.48.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the company posted $0.82 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is currently 19.68%.

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.