44,626 Shares in General Electric (NYSE:GE) Acquired by Transform Wealth LLC

Transform Wealth LLC bought a new stake in shares of General Electric (NYSE:GE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 44,626 shares of the conglomerate’s stock, valued at approximately $8,428,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GE. Vontobel Holding Ltd. increased its position in shares of General Electric by 5.5% during the third quarter. Vontobel Holding Ltd. now owns 15,664 shares of the conglomerate’s stock worth $2,954,000 after buying an additional 815 shares during the period. Leisure Capital Management acquired a new position in General Electric in the third quarter valued at $203,000. Terra Nova Asset Management LLC boosted its position in General Electric by 2.0% during the third quarter. Terra Nova Asset Management LLC now owns 15,994 shares of the conglomerate’s stock valued at $3,016,000 after acquiring an additional 313 shares during the last quarter. Sumitomo Life Insurance Co. grew its holdings in General Electric by 2.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,313 shares of the conglomerate’s stock worth $1,945,000 after acquiring an additional 273 shares during the period. Finally, Safeguard Financial LLC bought a new position in shares of General Electric in the 3rd quarter worth about $227,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 0.0 %

GE traded up $0.07 during midday trading on Wednesday, reaching $190.64. 889,780 shares of the company were exchanged, compared to its average volume of 6,358,769. The company has a market cap of $208.68 billion, a price-to-earnings ratio of 62.58, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. General Electric has a one year low of $84.42 and a one year high of $194.33. The company’s fifty day moving average price is $176.86 and its 200 day moving average price is $166.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last announced its quarterly 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 return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. General Electric’s revenue was up 3.9% compared to the same quarter last year. As a group, analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors 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 is Thursday, September 26th. General Electric’s payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group upped their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Barclays boosted their target price 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. Royal Bank of Canada raised their price target on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group upped their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Two equities research 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, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.86.

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.