Genesee Capital Advisors LLC Grows Position in General Electric (NYSE:GE)

Genesee Capital Advisors LLC raised its stake in shares of General Electric (NYSE:GE) by 172.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,942 shares of the conglomerate’s stock after buying an additional 3,127 shares during the quarter. Genesee Capital Advisors LLC’s holdings in General Electric were worth $932,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GE. Studio Investment Management LLC lifted its position in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. Toth Financial Advisory Corp purchased a new position in shares of General Electric in the third quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric in the second quarter worth about $31,000. Financial Connections Group Inc. purchased a new stake in shares of General Electric in the second quarter worth about $32,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of General Electric in the first quarter worth about $34,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 0.4 %

NYSE:GE traded up $0.69 during midday trading on Monday, reaching $193.30. The company had a trading volume of 2,181,634 shares, compared to its average volume of 6,313,633. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12-month low of $84.58 and a 12-month high of $194.80. The firm has a market capitalization of $211.59 billion, a price-to-earnings ratio of 63.31, a PEG ratio of 1.86 and a beta of 1.18. The stock’s fifty day simple moving average is $178.51 and its 200-day simple moving average is $167.58.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS 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 firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the business earned $0.68 EPS. General Electric’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GE. 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. Barclays increased their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein increased their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Jefferies Financial Group upped their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $196.86.

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.