Stonehearth Capital Management LLC Buys 332 Shares of General Electric (NYSE:GE)

Stonehearth Capital Management LLC raised its stake in General Electric (NYSE:GE) by 5.4% in the third quarter, Holdings Channel.com reports. The firm owned 6,528 shares of the conglomerate’s stock after acquiring an additional 332 shares during the period. General Electric makes up approximately 0.5% of Stonehearth Capital Management LLC’s holdings, making the stock its 27th largest holding. Stonehearth Capital Management LLC’s holdings in General Electric were worth $1,231,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Studio Investment Management LLC raised its stake in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares in 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 stake in shares of General Electric during the 4th quarter worth about $32,000. Financial Connections Group Inc. acquired a new stake in shares of General Electric during the 2nd quarter worth about $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of General Electric during the 1st quarter worth about $34,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the subject of a number of recent analyst reports. Sanford C. Bernstein initiated coverage on shares of General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price for the company. Royal Bank of Canada increased their target price on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Barclays increased their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company increased their price objective on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $191.36.

General Electric Stock Up 0.1 %

Shares of NYSE GE opened at $186.42 on Thursday. The firm has a market capitalization of $204.06 billion, a PE ratio of 61.12, a price-to-earnings-growth 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. General Electric has a 1 year low of $84.42 and a 1 year high of $190.88. The firm’s 50-day moving average is $172.79 and its 200-day moving average is $169.57.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. Equities analysts expect that General Electric will post 4.2 EPS 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 issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is currently 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.