General Electric (NYSE:GE) Stock Position Raised by Dakota Wealth Management

Dakota Wealth Management raised its stake in General Electric (NYSE:GE) by 21.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 8,086 shares of the conglomerate’s stock after buying an additional 1,449 shares during the quarter. Dakota Wealth Management’s holdings in General Electric were worth $1,525,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vicus Capital acquired a new position in shares of General Electric during the 1st quarter valued at $239,000. CRA Financial Services LLC purchased a new position in shares of General Electric during the 1st quarter valued at $284,000. Cornerstone Wealth Group LLC increased its position in General Electric by 17.9% in the 1st quarter. Cornerstone Wealth Group LLC now owns 4,574 shares of the conglomerate’s stock worth $803,000 after purchasing an additional 695 shares during the last quarter. Aviance Capital Partners LLC bought a new position in General Electric during the first quarter valued at approximately $306,000. Finally, Diversified Trust Co raised its holdings in shares of General Electric by 6.1% during the 1st quarter. Diversified Trust Co now owns 19,764 shares of the conglomerate’s stock valued at $3,469,000 after purchasing an additional 1,128 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the subject of several analyst reports. UBS Group boosted their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased 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, October 3rd. Melius Research raised their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Performance

Shares of NYSE:GE opened at $179.10 on Friday. The business has a 50-day moving average price of $179.90 and a two-hundred day moving average price of $168.48. General Electric has a 1-year low of $84.58 and a 1-year high of $194.80. The stock has a market capitalization of $194.20 billion, a P/E ratio of 31.48, a P/E/G ratio of 1.74 and a beta of 1.18. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Equities analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s payout ratio is 19.68%.

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.