LongView Wealth Management Acquires New Holdings in General Electric (NYSE:GE)

LongView Wealth Management bought a new position in shares of General Electric (NYSE:GE) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,192 shares of the conglomerate’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Macroview Investment Management LLC increased its position in General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. Strategic Advisors LLC raised its position in shares of General Electric by 2.6% in the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after buying an additional 58 shares during the last quarter. Allegheny Financial Group LTD lifted its stake in shares of General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after buying an additional 61 shares during the period. New England Research & Management Inc. boosted its position in General Electric by 2.2% during the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after acquiring an additional 63 shares during the last quarter. Finally, Certified Advisory Corp grew its stake in General Electric by 1.0% in the 2nd quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock worth $1,045,000 after acquiring an additional 63 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GE. Citigroup raised their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday. Sanford C. Bernstein assumed coverage on General Electric in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Jefferies Financial Group raised their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Barclays upped their price target 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. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $195.14.

General Electric Stock Up 1.6 %

Shares of General Electric stock opened at $191.16 on Friday. The company has a fifty day moving average price of $175.61 and a 200 day moving average price of $166.60. 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 twelve month low of $84.42 and a twelve month high of $191.76. The stock has a market cap of $207.28 billion, a price-to-earnings ratio of 45.30, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. 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 firm earned $0.68 earnings per share. Equities research analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.59%. General Electric’s dividend payout ratio (DPR) is presently 26.54%.

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.