Financial Advocates Investment Management increased its stake in General Electric (NYSE:GE – Get Rating) by 591.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,091 shares of the conglomerate’s stock after acquiring an additional 22,315 shares during the period. Financial Advocates Investment Management’s holdings in General Electric were worth $189,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Global Wealth Management Investment Advisory Inc. lifted its stake in General Electric by 808.1% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 299 shares during the last quarter. Coston McIsaac & Partners acquired a new stake in General Electric during the second quarter valued at approximately $25,000. Standard Family Office LLC acquired a new stake in General Electric during the third quarter valued at approximately $29,000. RE Dickinson Investment Advisors LLC lifted its stake in General Electric by 37.5% during the third quarter. RE Dickinson Investment Advisors LLC now owns 477 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 130 shares during the last quarter. Finally, Worth Asset Management LLC acquired a new stake in General Electric during the first quarter valued at approximately $37,000. 70.12% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several analysts recently commented on the stock. Wells Fargo & Company cut their target price on shares of General Electric from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 25th. Morgan Stanley reduced their price target on shares of General Electric from $88.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday, January 23rd. TheStreet upgraded shares of General Electric from a “c” rating to a “b-” rating in a research report on Friday, February 10th. StockNews.com upgraded shares of General Electric from a “hold” rating to a “buy” rating in a research report on Friday, February 3rd. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $88.00 price target on shares of General Electric in a research report on Monday. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $90.93.
General Electric Trading Up 0.9 %
GE stock opened at $87.06 on Tuesday. The company has a 50 day moving average of $81.25 and a two-hundred day moving average of $77.91. General Electric has a 12-month low of $46.55 and a 12-month high of $87.82. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76.
General Electric (NYSE:GE – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The conglomerate reported $1.24 EPS for the quarter, topping the consensus estimate of $1.11 by $0.13. General Electric had a net margin of 0.29% and a return on equity of 8.47%. The company had revenue of $21.79 billion for the quarter, compared to analyst estimates of $22.11 billion. During the same quarter in the prior year, the business posted $0.92 EPS. General Electric’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, research analysts predict that General Electric will post 1.93 EPS for the current year.
General Electric Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 25th. Stockholders of record on Tuesday, March 7th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $0.32 annualized dividend and a dividend yield of 0.37%. General Electric’s dividend payout ratio (DPR) is -1,066.67%.
About General Electric
General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.
Further Reading
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