Diversify Advisory Services LLC Buys 85 Shares of General Electric (NYSE:GE)

Diversify Advisory Services LLC raised its stake in shares of General Electric (NYSE:GE) by 5.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,638 shares of the conglomerate’s stock after purchasing an additional 85 shares during the period. Diversify Advisory Services LLC’s holdings in General Electric were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Toth Financial Advisory Corp bought a new position in shares of General Electric in the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric in the 3rd quarter valued at about $27,000. Studio Investment Management LLC lifted its holdings 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 acquiring an additional 78 shares during the last quarter. MFA Wealth Advisors LLC bought a new position in shares of General Electric in the 2nd quarter valued at about $31,000. Finally, Richardson Financial Services Inc. bought a new position in shares of General Electric in the 1st quarter valued at about $34,000. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the topic of a number of recent analyst reports. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Melius Research increased their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Sanford C. Bernstein increased their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Barclays increased their price objective 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, UBS Group increased their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Performance

Shares of GE stock opened at $171.75 on Friday. The firm has a market cap of $185.88 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 1.74 and a beta of 1.18. The company’s 50 day moving average is $180.18 and its 200 day moving average is $168.89. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 52-week low of $84.66 and a 52-week high of $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.82 earnings per share. On average, sell-side analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, September 26th. 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.