Valeo Financial Advisors LLC Boosts Stock Position in General Electric (NYSE:GE)

Valeo Financial Advisors LLC grew its holdings in shares of General Electric (NYSE:GE) by 11.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,759 shares of the conglomerate’s stock after buying an additional 1,833 shares during the quarter. Valeo Financial Advisors LLC’s holdings in General Electric were worth $3,349,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of General Electric by 93.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 24,432 shares of the conglomerate’s stock valued at $4,611,000 after purchasing an additional 11,827 shares in the last quarter. LongView Wealth Management acquired a new stake in General Electric during the third quarter valued at approximately $225,000. Watts Gwilliam & Co. LLC acquired a new position in shares of General Electric in the 3rd quarter worth approximately $205,000. Private Advisory Group LLC increased its holdings in shares of General Electric by 15.2% in the 3rd quarter. Private Advisory Group LLC now owns 27,360 shares of the conglomerate’s stock valued at $5,160,000 after acquiring an additional 3,609 shares during the last quarter. Finally, Strategic Advisors LLC raised its position in shares of General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Sanford C. Bernstein started coverage on shares of General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price for the company. 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 research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Jefferies Financial Group raised their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Barclays upped their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $195.14.

General Electric Stock Up 1.6 %

Shares of GE stock opened at $191.20 on Friday. General Electric has a 1 year low of $84.42 and a 1 year high of $191.76. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The business’s fifty day moving average is $175.61 and its 200-day moving average is $166.65. The stock has a market cap of $207.32 billion, a PE ratio of 45.31, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $8.44 billion. During the same period in the prior year, the company earned $0.68 EPS. General Electric’s revenue was up 3.9% on a year-over-year basis. Equities analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders 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 dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 26.54%.

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.