General Electric (NYSE:GE) Shares Bought by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC grew its position in General Electric (NYSE:GE) by 19.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,015 shares of the conglomerate’s stock after acquiring an additional 324 shares during the quarter. Alpha Cubed Investments LLC’s holdings in General Electric were worth $380,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Macroview Investment Management LLC grew its holdings in shares of General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares during the period. Allegheny Financial Group LTD grew its stake in General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after buying an additional 61 shares during the period. New England Research & Management Inc. increased its position in shares of General Electric by 2.2% in the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after acquiring an additional 63 shares in the last quarter. Certified Advisory Corp raised its stake in shares of General Electric by 1.0% in the 2nd quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock valued at $1,045,000 after acquiring an additional 63 shares during the period. Finally, Argent Trust Co lifted its holdings in shares of General Electric by 0.6% during the 2nd quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock valued at $1,707,000 after acquiring an additional 64 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of GE stock opened at $187.47 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The stock has a market capitalization of $205.21 billion, a price-to-earnings ratio of 61.47, a PEG ratio of 1.87 and a beta of 1.18. General Electric has a one year low of $84.42 and a one year high of $190.88. The company’s 50-day simple moving average is $173.84 and its 200-day simple moving average is $166.13.

General Electric (NYSE:GE) last announced its quarterly earnings data 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. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period last year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is presently 36.72%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GE. Jefferies Financial Group increased their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Sanford C. Bernstein started coverage on General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price on the stock. 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. Wells Fargo & Company increased their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus target price 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.