Perfromance Wealth Partners LLC Takes $325,000 Position in General Electric (NYSE:GE)

Perfromance Wealth Partners LLC purchased a new position in shares of General Electric (NYSE:GE) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,726 shares of the conglomerate’s stock, valued at approximately $325,000.

A number of other hedge funds also recently modified their holdings of the stock. Studio Investment Management LLC increased its stake in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in General Electric during the 2nd quarter valued at $31,000. Richardson Financial Services Inc. purchased a new stake in shares of General Electric during the first quarter worth $34,000. Financial Connections Group Inc. bought a new position in shares of General Electric in the second quarter worth $32,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of General Electric in the first quarter valued at $37,000. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 1.6 %

General Electric stock traded up $3.04 during trading hours on Friday, reaching $191.16. The company had a trading volume of 2,983,933 shares, compared to its average volume of 6,415,765. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. General Electric has a 12-month low of $84.42 and a 12-month high of $191.76. The company has a 50-day moving average price of $175.61 and a 200 day moving average price of $166.65. The firm has a market cap of $207.28 billion, a price-to-earnings ratio of 45.31, a P/E/G ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 earnings per share. Equities analysts forecast 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 will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is currently 26.54%.

Analyst Ratings Changes

A number of research analysts have weighed in on GE shares. Royal Bank of Canada lifted their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Citigroup upped their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday. Barclays boosted their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Sanford C. Bernstein began coverage on General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective for the company. Finally, Jefferies Financial Group lifted their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $195.14.

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.