Pittenger & Anderson Inc. Purchases 898 Shares of General Electric (NYSE:GE)

Pittenger & Anderson Inc. grew its stake in General Electric (NYSE:GE) by 615.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,044 shares of the conglomerate’s stock after acquiring an additional 898 shares during the quarter. Pittenger & Anderson Inc.’s holdings in General Electric were worth $197,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Studio Investment Management LLC increased its stake in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Toth Financial Advisory Corp bought a new stake in shares of General Electric in the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the 3rd quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new stake in shares of General Electric in the 2nd quarter valued at about $31,000. Finally, Financial Connections Group Inc. bought a new stake in shares of General Electric in the 2nd quarter valued at about $32,000. 74.77% of the stock is owned by institutional investors.

General Electric Trading Up 2.0 %

Shares of General Electric stock opened at $175.26 on Wednesday. General Electric has a 12-month low of $86.83 and a 12-month high of $194.80. The stock has a market cap of $189.68 billion, a P/E ratio of 30.80, a P/E/G ratio of 1.70 and a beta of 1.19. 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 business’s 50 day moving average is $180.29 and its 200-day moving average is $169.51.

General Electric (NYSE:GE) last posted its quarterly earnings results 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. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the prior year, the business earned $0.82 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities research analysts predict that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GE shares. Citigroup boosted their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted 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, October 23rd. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Bank of America boosted their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Melius Research boosted their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

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.