Massachusetts Wealth Management Buys 138 Shares of General Electric (NYSE:GE)

Massachusetts Wealth Management lifted its holdings in General Electric (NYSE:GE) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,732 shares of the conglomerate’s stock after buying an additional 138 shares during the period. General Electric comprises 1.8% of Massachusetts Wealth Management’s holdings, making the stock its 14th largest holding. Massachusetts Wealth Management’s holdings in General Electric were worth $2,778,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GE. Newport Trust Company LLC purchased a new position in shares of General Electric during the 2nd quarter worth about $2,613,332,000. Capital World Investors boosted its position in General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares during the period. Capital International Investors boosted its position in General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board boosted its position in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new stake in General Electric in the 2nd quarter valued at about $580,200,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

NYSE GE traded up $0.31 during mid-day trading on Friday, reaching $180.05. 985,431 shares of the stock were exchanged, compared to its average volume of 6,352,584. The business’s 50 day moving average is $179.71 and its 200-day moving average is $168.23. General Electric has a 1 year low of $84.58 and a 1 year high of $194.80. The company has a market capitalization of $197.08 billion, a P/E ratio of 58.94, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 earnings per share. On average, equities research analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders 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 yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is presently 36.72%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GE shares. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday. Royal Bank of Canada reduced their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Jefferies Financial Group boosted their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Bank of America boosted their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

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.