E&G Advisors LP Acquires Shares of 1,227 General Electric (NYSE:GE)

E&G Advisors LP bought a new position in shares of General Electric (NYSE:GE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,227 shares of the conglomerate’s stock, valued at approximately $231,000.

Several other hedge funds have also recently modified their holdings of GE. Studio Investment Management LLC lifted its holdings in General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric in the second quarter valued at about $31,000. Financial Connections Group Inc. purchased a new position in shares of General Electric in the second quarter worth about $32,000. Richardson Financial Services Inc. acquired a new position in General Electric during the first quarter worth about $34,000. Finally, Macroview Investment Management LLC grew its stake in General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank of Canada raised 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. Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company raised their target price on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Jefferies Financial Group boosted their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $196.86.

General Electric Stock Down 0.0 %

NYSE:GE opened at $192.61 on Friday. General Electric has a 52 week low of $84.42 and a 52 week high of $194.80. The stock’s fifty day moving average is $178.51 and its two-hundred day moving average is $167.42. The stock has a market capitalization of $210.83 billion, a price-to-earnings ratio of 63.15, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

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

General Electric Dividend Announcement

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

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.