Quad Cities Investment Group LLC Makes New Investment in General Electric (NYSE:GE)

Quad Cities Investment Group LLC purchased a new stake in General Electric (NYSE:GE) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,066 shares of the conglomerate’s stock, valued at approximately $201,000.

Other institutional investors also recently modified their holdings of the company. Studio Investment Management LLC lifted 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 bought a new position in shares of General Electric during the 2nd quarter worth approximately $31,000. Kapitalo Investimentos Ltda acquired a new stake in shares of General Electric during the 4th quarter worth approximately $32,000. Financial Connections Group Inc. acquired a new position in shares of General Electric during the 2nd quarter valued at $32,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of General Electric during the 1st quarter valued at $34,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

Shares of GE stock traded up $0.66 during trading on Thursday, hitting $192.84. The company had a trading volume of 947,556 shares, compared to its average volume of 6,341,698. The stock’s 50-day moving average is $177.46 and its two-hundred day moving average is $166.91. The stock has a market capitalization of $211.08 billion, a price-to-earnings ratio of 63.32, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. General Electric has a 52 week low of $84.42 and a 52 week high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.58%. General Electric’s payout ratio is 36.72%.

Analyst Ratings Changes

A number of analysts recently commented on GE shares. Barclays boosted their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. UBS Group raised their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Jefferies Financial Group boosted their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $196.86.

General Electric 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.