Pure Financial Advisors LLC Increases Stock Position in General Electric (NYSE:GE)

Pure Financial Advisors LLC raised its holdings in shares of General Electric (NYSE:GE) by 10.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,261 shares of the conglomerate’s stock after acquiring an additional 321 shares during the quarter. Pure Financial Advisors LLC’s holdings in General Electric were worth $615,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Studio Investment Management LLC increased its position in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Toth Financial Advisory Corp bought a new stake in shares of General Electric during the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric during the 3rd quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new position in shares of General Electric in the 2nd quarter worth approximately $31,000. Finally, Financial Connections Group Inc. purchased a new position in shares of General Electric in the second quarter worth approximately $32,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE:GE opened at $171.70 on Monday. 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 stock’s fifty day moving average is $180.20 and its 200 day moving average is $169.19. The firm has a market capitalization of $185.83 billion, a PE ratio of 30.18, a PEG ratio of 1.70 and a beta of 1.19. General Electric has a fifty-two week low of $85.89 and a fifty-two week high of $194.80.

General Electric (NYSE:GE) last released its earnings results 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. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned $0.82 EPS. On average, sell-side analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s dividend payout ratio (DPR) is 19.68%.

Analysts Set New Price Targets

GE has been the subject of several analyst reports. Wells Fargo & Company upped their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America raised their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Citigroup increased their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, StockNews.com lowered 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 given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $200.93.

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.