Insight Wealth Strategies LLC Acquires New Position in General Electric (NYSE:GE)

Insight Wealth Strategies LLC acquired a new stake in General Electric (NYSE:GE) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,076 shares of the conglomerate’s stock, valued at approximately $203,000.

Several other large investors have also bought and sold shares of GE. Sei Investments Co. increased its stake in General Electric by 8.2% in the fourth quarter. Sei Investments Co. now owns 378,054 shares of the conglomerate’s stock valued at $48,251,000 after purchasing an additional 28,773 shares in the last quarter. Logan Capital Management Inc. increased its stake in General Electric by 21.2% in the fourth quarter. Logan Capital Management Inc. now owns 4,468 shares of the conglomerate’s stock valued at $570,000 after purchasing an additional 781 shares in the last quarter. Regal Investment Advisors LLC increased its stake in General Electric by 14.9% in the fourth quarter. Regal Investment Advisors LLC now owns 3,464 shares of the conglomerate’s stock valued at $442,000 after purchasing an additional 448 shares in the last quarter. MGO One Seven LLC increased its stake in General Electric by 8.9% in the fourth quarter. MGO One Seven LLC now owns 11,299 shares of the conglomerate’s stock valued at $1,442,000 after purchasing an additional 926 shares in the last quarter. Finally, Power Corp of Canada increased its stake in General Electric by 52.4% in the fourth quarter. Power Corp of Canada now owns 7,618 shares of the conglomerate’s stock valued at $972,000 after purchasing an additional 2,618 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays upped their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada increased their price objective 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 downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. 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 research report on Wednesday, July 24th. Finally, UBS Group increased their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average target price of $193.00.

General Electric Stock Up 0.8 %

General Electric stock opened at $187.47 on Wednesday. The company has a market cap of $205.21 billion, a P/E ratio of 61.47, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. General Electric has a 1-year low of $84.42 and a 1-year high of $190.88. The company has a fifty day simple moving average of $173.84 and a 200 day simple moving average of $166.13. 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 (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 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 net margin of 7.66% and a return on equity of 16.07%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. Research analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared 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. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date 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.