WT Asset Management Ltd Invests $1.13 Million in General Electric (NYSE:GE)

WT Asset Management Ltd purchased a new stake in shares of General Electric (NYSE:GE) in the third quarter, according to its most recent filing with the SEC. The firm purchased 6,000 shares of the conglomerate’s stock, valued at approximately $1,131,000. General Electric accounts for about 0.2% of WT Asset Management Ltd’s portfolio, making the stock its 23rd largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in GE. Studio Investment Management LLC increased its stake in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in General Electric during the third quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric during the 3rd quarter valued at $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric during the 2nd quarter worth $31,000. Finally, Financial Connections Group Inc. purchased a new position in shares of General Electric in the 2nd quarter worth $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 1.7 %

General Electric stock traded up $2.88 during midday trading on Friday, hitting $174.66. The stock had a trading volume of 1,065,095 shares, compared to its average volume of 6,315,175. The stock has a market cap of $189.03 billion, a P/E ratio of 30.76, a P/E/G ratio of 1.72 and a beta of 1.18. The business has a fifty day moving average price of $180.18 and a 200 day moving average price of $168.89. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12 month low of $85.89 and a 12 month high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 EPS. Research analysts predict that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.64%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is presently 19.68%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GE shares. Barclays boosted their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Sanford C. Bernstein increased their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup upped their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company raised their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Melius Research upped their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average 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.