Private Advisor Group LLC Boosts Stake in General Electric (NYSE:GE)

Private Advisor Group LLC raised its position in shares of General Electric (NYSE:GE) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,308 shares of the conglomerate’s stock after buying an additional 1,670 shares during the quarter. Private Advisor Group LLC’s holdings in General Electric were worth $18,539,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Studio Investment Management LLC raised its position in shares of General Electric by 97.5% during 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. Toth Financial Advisory Corp purchased a new stake in General Electric during the third quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new stake in shares of General Electric in the 2nd quarter valued at approximately $31,000. Financial Connections Group Inc. bought a new stake in shares of General Electric in the 2nd quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. bought a new position in shares of General Electric during the 1st quarter valued at approximately $34,000. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of GE stock opened at $181.78 on Thursday. General Electric has a twelve month low of $84.58 and a twelve 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 stock has a fifty day simple moving average of $179.51 and a two-hundred day simple moving average of $168.15. The stock has a market capitalization of $198.98 billion, a price-to-earnings ratio of 59.60, a P/E/G ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 earnings per share. On average, analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm 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 annualized dividend and a yield of 0.62%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GE shares. UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday. Melius Research raised their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company raised their price objective on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Company 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.