HWG Holdings LP Acquires 9,297 Shares of General Electric (NYSE:GE)

HWG Holdings LP raised its holdings in shares of General Electric (NYSE:GE) by 18,973.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,346 shares of the conglomerate’s stock after purchasing an additional 9,297 shares during the period. HWG Holdings LP’s holdings in General Electric were worth $1,763,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Toth Financial Advisory Corp purchased a new stake in General Electric in the third quarter worth $25,000. Studio Investment Management LLC boosted its stake in shares of General Electric by 97.5% during 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 in the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of General Electric during the second quarter valued at about $31,000. Richardson Financial Services Inc. bought a new position in General Electric in the first quarter worth about $34,000. Finally, Financial Connections Group Inc. purchased a new stake in General Electric in the second quarter worth about $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of GE opened at $180.25 on Friday. The firm has a 50 day moving average of $179.51 and a 200 day moving average of $168.15. 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 has a twelve month low of $84.58 and a twelve month high of $194.80. The company has a market capitalization of $197.30 billion, a P/E ratio of 58.90, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the firm posted $0.82 earnings per share. General Electric’s revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Analyst Ratings Changes

A number of research firms have weighed in on GE. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Barclays upped their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company raised their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday. Bank of America upped their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.93.

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.