Financial Advocates Investment Management Raises Stock Holdings in General Electric (NYSE:GE)

Financial Advocates Investment Management boosted its stake in shares of General Electric (NYSE:GE) by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,720 shares of the conglomerate’s stock after buying an additional 286 shares during the period. Financial Advocates Investment Management’s holdings in General Electric were worth $702,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Newport Trust Company LLC bought a new position in General Electric in the second quarter worth about $2,613,332,000. Capital World Investors grew its stake in General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares during the last quarter. Capital International Investors increased its position in General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after acquiring an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of General Electric during the second quarter valued at about $580,200,000. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GE shares. Royal Bank of Canada dropped their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. UBS Group upped their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Bank of America raised their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

GE stock opened at $171.70 on Friday. General Electric has a 52-week low of $85.89 and a 52-week high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock has a market cap of $185.83 billion, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18. The business has a fifty day moving average of $180.20 and a two-hundred day moving average of $169.01.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter last year, the firm earned $0.82 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

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.