Trueblood Wealth Management LLC Purchases New Holdings in General Electric (NYSE:GE)

Trueblood Wealth Management LLC purchased a new stake in General Electric (NYSE:GE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,168 shares of the conglomerate’s stock, valued at approximately $220,000.

A number of other hedge funds also recently modified their holdings of GE. Toth Financial Advisory Corp bought a new stake in General Electric in the third quarter valued at about $25,000. Studio Investment Management LLC grew 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 purchasing an additional 78 shares during the period. MFA Wealth Advisors LLC acquired a new position in shares of General Electric in the 2nd quarter worth approximately $31,000. Richardson Financial Services Inc. bought a new position in shares of General Electric during the 1st quarter worth approximately $34,000. Finally, Financial Connections Group Inc. acquired a new stake in General Electric in the 2nd quarter valued at $32,000. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Royal Bank of Canada cut their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday. Wells Fargo & Company boosted their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Sanford C. Bernstein boosted their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Melius Research raised their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Performance

General Electric stock opened at $179.10 on Friday. The company has a market cap of $194.20 billion, a PE ratio of 31.48, a PEG 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 has a 1 year low of $84.58 and a 1 year high of $194.80. The company’s 50-day moving average is $179.90 and its two-hundred day moving average is $168.48.

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

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued 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 dividend payout ratio is presently 19.68%.

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.