Opal Wealth Advisors LLC Has $226,000 Stock Position in General Electric (NYSE:GE)

Opal Wealth Advisors LLC raised its stake in General Electric (NYSE:GE) by 11.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,197 shares of the conglomerate’s stock after buying an additional 120 shares during the period. Opal Wealth Advisors LLC’s holdings in General Electric were worth $226,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Virtu Financial LLC raised its stake in shares of General Electric by 38.0% during the fourth quarter. Virtu Financial LLC now owns 3,865 shares of the conglomerate’s stock valued at $493,000 after acquiring an additional 1,064 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of General Electric by 1.6% during the fourth quarter. Wellington Management Group LLP now owns 133,618 shares of the conglomerate’s stock valued at $17,054,000 after acquiring an additional 2,055 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of General Electric during the fourth quarter valued at $32,000. Massmutual Trust Co. FSB ADV raised its stake in shares of General Electric by 5.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 3,323 shares of the conglomerate’s stock valued at $583,000 after acquiring an additional 167 shares during the last quarter. Finally, Foster Group Inc. raised its stake in shares of General Electric by 16.8% during the first quarter. Foster Group Inc. now owns 2,623 shares of the conglomerate’s stock valued at $460,000 after acquiring an additional 377 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

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

General Electric Trading Up 0.8 %

GE opened at $192.18 on Thursday. General Electric has a 1-year low of $84.42 and a 1-year high of $194.33. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market cap of $210.36 billion, a P/E ratio of 63.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The company has a fifty day moving average price of $177.46 and a two-hundred day moving average price of $166.91.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. Analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

About General Electric

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.