Watts Gwilliam & Co. LLC Purchases New Holdings in General Electric (NYSE:GE)

Watts Gwilliam & Co. LLC purchased a new stake in General Electric (NYSE:GE) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 1,093 shares of the conglomerate’s stock, valued at approximately $205,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Newport Trust Company LLC acquired a new position in General Electric during the 2nd quarter worth approximately $2,613,332,000. Capital World Investors increased its position 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 purchasing an additional 12,312,648 shares during the period. 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 worth $10,373,936,000 after purchasing an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of General Electric by 221.6% during the 1st 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of General Electric during the 2nd quarter worth approximately $580,200,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Sanford C. Bernstein assumed coverage on General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target on the stock. Jefferies Financial Group boosted their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada upped their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. UBS Group upped their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, Citigroup upped their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday. Two equities 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 currently has an average rating of “Moderate Buy” and a consensus price target of $195.14.

General Electric Trading Up 1.6 %

Shares of General Electric stock opened at $191.20 on Friday. The firm has a market cap of $207.32 billion, a PE ratio of 45.31, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The business’s fifty day moving average is $175.61 and its two-hundred day moving average is $166.65. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $191.76.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. Analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be issued a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.59%. General Electric’s dividend payout ratio is currently 26.54%.

General Electric Company 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.