General Electric (NYSE:GE) Shares Purchased by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC increased its stake in shares of General Electric (NYSE:GE) by 2.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,173 shares of the conglomerate’s stock after buying an additional 453 shares during the quarter. Daymark Wealth Partners LLC’s holdings in General Electric were worth $4,181,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GE. Peddock Capital Advisors LLC purchased a new stake in General Electric in the 3rd quarter valued at about $202,000. True North Advisors LLC boosted its position in shares of General Electric by 142.5% during the third quarter. True North Advisors LLC now owns 25,972 shares of the conglomerate’s stock worth $4,898,000 after buying an additional 15,264 shares during the period. Strategic Wealth Partners Ltd. purchased a new position in General Electric during the 3rd quarter valued at about $251,000. Hoxton Planning & Management LLC acquired a new position in General Electric in the 3rd quarter valued at about $208,000. Finally, Brookstone Capital Management increased its stake in General Electric by 13.5% during the third quarter. Brookstone Capital Management now owns 18,927 shares of the conglomerate’s stock worth $3,569,000 after purchasing an additional 2,258 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 0.5 %

Shares of NYSE GE traded up $1.01 during mid-day trading on Wednesday, reaching $188.48. The company had a trading volume of 530,575 shares, compared to its average volume of 6,445,333. General Electric has a 52-week low of $84.42 and a 52-week high of $190.88. The stock has a market cap of $206.31 billion, a P/E ratio of 61.74, a PEG ratio of 1.87 and a beta of 1.18. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a 50 day simple moving average of $174.24 and a two-hundred day simple moving average of $166.21.

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

General Electric Announces Dividend

The company 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 $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.59%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Analysts Set New Price Targets

Several research analysts have recently commented on GE shares. Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Sanford C. Bernstein initiated coverage on General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price for the company. Royal Bank of Canada lifted their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company upped their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $193.00.

General Electric 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.