Silverberg Bernstein Capital Management LLC Raises Stock Position in General Electric (NYSE:GE)

Silverberg Bernstein Capital Management LLC lifted its stake in shares of General Electric (NYSE:GE) by 8.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,906 shares of the conglomerate’s stock after acquiring an additional 225 shares during the quarter. Silverberg Bernstein Capital Management LLC’s holdings in General Electric were worth $548,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Studio Investment Management LLC lifted its position in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC acquired a new position in shares of General Electric in the 2nd quarter valued at $31,000. Kapitalo Investimentos Ltda acquired a new position in shares of General Electric in the 4th quarter valued at $32,000. Financial Connections Group Inc. acquired a new position in shares of General Electric in the 2nd quarter valued at $32,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of General Electric in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 1.7 %

Shares of GE traded up $3.19 on Friday, hitting $187.08. 3,978,906 shares of the stock traded hands, compared to its average volume of 6,511,288. 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 firm has a market capitalization of $204.78 billion, a P/E ratio of 61.32, a P/E/G ratio of 1.87 and a beta of 1.18. The stock’s 50 day moving average is $173.52 and its two-hundred day moving average is $166.17. General Electric has a 1 year low of $84.42 and a 1 year high of $190.88.

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

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 36.72%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GE shares. Wells Fargo & Company lifted their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. UBS Group boosted their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada boosted their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $193.00.

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.