Reston Wealth Management LLC Takes Position in General Electric (NYSE:GE)

Reston Wealth Management LLC bought a new stake in shares of General Electric (NYSE:GE) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 523 shares of the conglomerate’s stock, valued at approximately $99,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GE. Studio Investment Management LLC boosted its holdings in General Electric by 97.5% in 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. Toth Financial Advisory Corp bought a new position in shares of General Electric in the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric in the 3rd quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new stake in shares of General Electric during the 2nd quarter valued at about $31,000. Finally, Financial Connections Group Inc. acquired a new stake in General Electric during the second quarter worth about $32,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Down 1.7 %

General Electric stock opened at $171.75 on Friday. The stock has a market cap of $185.88 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 1.72 and a beta of 1.18. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average price is $180.18 and its two-hundred day moving average price is $168.89. General Electric has a 52 week low of $84.66 and a 52 week high of $194.80.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $0.82 EPS. On average, analysts expect that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s payout ratio is 19.68%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wells Fargo & Company lifted their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada dropped their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup increased their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

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.