1,133 Shares in General Electric (NYSE:GE) Bought by M3 Advisory Group LLC

M3 Advisory Group LLC bought a new position in General Electric (NYSE:GE) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,133 shares of the conglomerate’s stock, valued at approximately $214,000.

A number of other hedge funds have also recently modified their holdings of GE. Mackenzie Financial Corp raised its holdings in General Electric by 10.5% in the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after purchasing an additional 57,372 shares during the period. Marietta Investment Partners LLC acquired a new position in General Electric in the 2nd quarter worth about $1,569,000. GAMMA Investing LLC raised its holdings in General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after purchasing an additional 3,442 shares during the period. Senator Investment Group LP acquired a new position in General Electric in the 2nd quarter worth about $34,973,000. Finally, Blair William & Co. IL raised its holdings in General Electric by 4.4% in the 2nd quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock worth $28,928,000 after purchasing an additional 7,670 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GE. Barclays upped their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. 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. Sanford C. Bernstein increased their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday. UBS Group increased their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Finally, Citigroup increased their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $196.86.

General Electric Stock Down 0.5 %

General Electric stock traded down $0.99 during midday trading on Friday, reaching $191.63. The company’s stock had a trading volume of 810,454 shares, compared to its average volume of 6,322,874. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The company has a market cap of $209.76 billion, a P/E ratio of 63.16, a P/E/G ratio of 1.86 and a beta of 1.18. The business has a 50-day simple moving average of $178.01 and a 200-day simple moving average of $167.09.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. On average, research analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given 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 (DPR) 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.