REDW Wealth LLC Takes Position in General Electric (NYSE:GE)

REDW Wealth LLC acquired a new stake in shares of General Electric (NYSE:GE) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,186 shares of the conglomerate’s stock, valued at approximately $224,000.

Several other institutional investors have also modified their holdings of the business. Ashton Thomas Private Wealth LLC grew its stake in shares of General Electric by 3.1% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 3,975 shares of the conglomerate’s stock worth $698,000 after acquiring an additional 118 shares in the last quarter. Norden Group LLC acquired a new stake in General Electric in the 1st quarter valued at $234,000. Diversify Advisory Services LLC bought a new stake in General Electric during the 1st quarter worth about $288,000. Janney Montgomery Scott LLC grew its holdings in shares of General Electric by 11.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 136,942 shares of the conglomerate’s stock valued at $24,038,000 after acquiring an additional 14,018 shares in the last quarter. Finally, Moloney Securities Asset Management LLC acquired a new stake in shares of General Electric in the first quarter valued at about $239,000. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on GE. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Melius Research increased their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. 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 research report on Monday, October 14th. UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Citigroup increased their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Two 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, the company has an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

Shares of NYSE GE opened at $171.70 on Friday. The firm has a market cap of $185.83 billion, a P/E ratio of 30.18, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19. 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 1-year low of $85.89 and a 1-year high of $194.80. The business’s 50 day moving average is $180.20 and its 200-day moving average is $169.10.

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

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders 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 dividend yield of 0.65%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

General Electric Profile

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.