Armstrong Advisory Group Inc. Purchases 1,406 Shares of General Electric (NYSE:GE)

Armstrong Advisory Group Inc. raised its position in General Electric (NYSE:GE) by 62.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,641 shares of the conglomerate’s stock after purchasing an additional 1,406 shares during the period. Armstrong Advisory Group Inc.’s holdings in General Electric were worth $687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Studio Investment Management LLC increased its holdings in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. MFA Wealth Advisors LLC bought a new stake in shares of General Electric during the 2nd quarter valued at $31,000. Kapitalo Investimentos Ltda acquired a new stake in shares of General Electric during the 4th quarter worth $32,000. Financial Connections Group Inc. bought a new stake in General Electric during the second quarter worth $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of General Electric in the 1st quarter valued at $34,000. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 1.6 %

Shares of GE opened at $191.16 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The firm has a market cap of $209.25 billion, a P/E ratio of 62.68, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $191.76. The business has a 50-day moving average of $175.61 and a 200 day moving average of $166.50.

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

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders 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 (DPR) is presently 36.72%.

Analysts Set New Price Targets

GE has been the subject of several recent analyst reports. Sanford C. Bernstein started coverage on General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective for the company. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Citigroup upped their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company increased their price objective on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada upped their price target on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $195.14.

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.