Peterson Financial Group Inc. Buys New Holdings in General Electric (NYSE:GE)

Peterson Financial Group Inc. purchased a new position in shares of General Electric (NYSE:GE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 150 shares of the conglomerate’s stock, valued at approximately $28,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC raised its position in shares of General Electric by 117.7% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after acquiring an additional 146 shares in the last quarter. Mackenzie Financial Corp raised its holdings in General Electric by 10.5% during the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after purchasing an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC purchased a new stake in shares of General Electric during the 2nd quarter worth approximately $1,569,000. GAMMA Investing LLC boosted its holdings in shares of General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after buying an additional 3,442 shares in the last quarter. Finally, Senator Investment Group LP purchased a new position in shares of General Electric in the 2nd quarter valued at $34,973,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GE. Citigroup boosted their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. 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 note on Wednesday, October 23rd. Melius Research raised their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Down 0.8 %

Shares of NYSE:GE opened at $176.93 on Friday. General Electric has a fifty-two week low of $93.05 and a fifty-two 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 firm’s 50-day simple moving average is $182.29 and its 200-day simple moving average is $170.63. The company has a market cap of $191.49 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.75 and a beta of 1.19.

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. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the previous year, the company earned $0.82 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts predict that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is presently 19.68%.

Insiders Place Their Bets

In related news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is currently owned by company insiders.

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.