MFA Wealth Advisors LLC Makes New Investment in General Electric (NYSE:GE)

MFA Wealth Advisors LLC bought a new position in General Electric (NYSE:GE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 193 shares of the conglomerate’s stock, valued at approximately $31,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Richardson Financial Services Inc. purchased a new stake in General Electric during the 1st quarter valued at about $34,000. ANTIPODES PARTNERS Ltd purchased a new stake in General Electric in the 1st quarter worth approximately $37,000. Criterion Capital Advisors LLC purchased a new stake in General Electric in the 4th quarter worth approximately $27,000. Horrell Capital Management Inc. purchased a new stake in General Electric in the 1st quarter worth approximately $44,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in General Electric in the 1st quarter worth approximately $44,000. 74.77% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the sale, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

General Electric Stock Performance

NYSE GE traded up $1.23 on Wednesday, hitting $171.22. 4,102,644 shares of the company traded hands, compared to its average volume of 6,873,625. The company has a market capitalization of $187.42 billion, a price-to-earnings ratio of 56.14, a P/E/G ratio of 1.70 and a beta of 1.21. 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 business’s 50 day moving average price is $163.80 and its 200-day moving average price is $161.06. General Electric has a 52-week low of $84.42 and a 52-week high of $177.20.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the previous year, the business earned $0.68 earnings per share. General Electric’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities analysts expect that General Electric will post 4.15 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. General Electric’s payout ratio is 36.72%.

Wall Street Analyst Weigh In

GE has been the subject of a number of analyst reports. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Royal Bank of Canada raised their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group raised their price objective on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. raised their price objective on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $190.38.

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.