Foundations Investment Advisors LLC Grows Position in General Electric (NYSE:GE)

Foundations Investment Advisors LLC grew its stake in General Electric (NYSE:GE) by 5.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,364 shares of the conglomerate’s stock after buying an additional 513 shares during the period. Foundations Investment Advisors LLC’s holdings in General Electric were worth $1,954,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Studio Investment Management LLC increased its stake in General Electric by 97.5% in 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 in the last quarter. Toth Financial Advisory Corp bought a new position in shares of General Electric in the third quarter worth about $25,000. MFA Wealth Advisors LLC bought a new stake in General Electric during the 2nd quarter valued at approximately $31,000. Financial Connections Group Inc. bought a new stake in General Electric during the 2nd quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. purchased a new position in General Electric in the 1st quarter worth approximately $34,000. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday. Jefferies Financial Group boosted their price target 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. Sanford C. Bernstein increased their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Price Performance

General Electric stock opened at $181.78 on Thursday. General Electric has a 12-month low of $84.58 and a 12-month high of $194.80. 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 moving average price of $179.51 and a 200-day moving average price of $168.15. The firm has a market capitalization of $198.98 billion, a PE ratio of 59.60, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the previous year, the business earned $0.82 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts forecast 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. Shareholders of record on Thursday, September 26th will be paid a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric’s payout ratio is 36.72%.

About General Electric

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.