1,196 Shares in General Electric (NYSE:GE) Acquired by Horst & Graben Wealth Management LLC

Horst & Graben Wealth Management LLC purchased a new stake in shares of General Electric (NYSE:GE) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,196 shares of the conglomerate’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Newport Trust Company LLC acquired a new position in shares of General Electric in the 2nd quarter valued at $2,613,332,000. Capital World Investors increased its holdings in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Capital International Investors increased its holdings in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new stake in General Electric in the second quarter valued at approximately $580,200,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on GE. Jefferies Financial Group raised their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Wells Fargo & Company raised their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Citigroup upped their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Barclays lifted their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Sanford C. Bernstein upped their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $196.86.

General Electric Stock Up 0.9 %

NYSE GE opened at $194.35 on Tuesday. The business has a fifty day moving average price of $179.06 and a 200 day moving average price of $167.91. 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 company has a market cap of $212.74 billion, a P/E ratio of 63.72, a P/E/G ratio of 1.86 and a beta of 1.18. General Electric has a one year low of $84.58 and a one year high of $194.80.

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

General Electric Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.58%. General Electric’s payout ratio is 36.72%.

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.