United Advisor Group LLC Acquires New Shares in General Electric (NYSE:GE)

United Advisor Group LLC purchased a new stake in shares of General Electric (NYSE:GE) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,611 shares of the conglomerate’s stock, valued at approximately $304,000.

Other large investors have also added to or reduced their stakes in the company. Tsfg LLC boosted its stake in General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after purchasing an additional 55 shares during the last quarter. Macroview Investment Management LLC raised its position in General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. Strategic Advisors LLC lifted its stake in General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after acquiring an additional 58 shares in the last quarter. Allegheny Financial Group LTD grew its stake in shares of General Electric by 1.4% in the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after acquiring an additional 61 shares in the last quarter. Finally, New England Research & Management Inc. grew its position in General Electric by 2.2% in the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GE. UBS Group upped their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Melius Research upped their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Citigroup upped their price objective 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. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Price Performance

GE opened at $180.80 on Thursday. The firm has a market cap of $195.68 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 1.70 and a beta of 1.19. General Electric has a 1 year low of $88.68 and a 1 year high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $180.47 and its 200 day simple moving average is $169.59.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 earnings per share. As a group, analysts predict that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric’s dividend payout ratio is 19.68%.

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.