Tsfg LLC Increases Stock Holdings in General Electric (NYSE:GE)

Tsfg LLC raised its holdings in General Electric (NYSE:GE) by 12.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 485 shares of the conglomerate’s stock after acquiring an additional 55 shares during the quarter. Tsfg LLC’s holdings in General Electric were worth $92,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GE. Jamison Private Wealth Management Inc. raised its holdings in shares of General Electric by 5.4% in the third quarter. Jamison Private Wealth Management Inc. now owns 12,059 shares of the conglomerate’s stock worth $2,274,000 after buying an additional 621 shares during the last quarter. Opal Wealth Advisors LLC raised its stake in General Electric by 11.1% in the 3rd quarter. Opal Wealth Advisors LLC now owns 1,197 shares of the conglomerate’s stock worth $226,000 after acquiring an additional 120 shares during the last quarter. CFM Wealth Partners LLC acquired a new stake in General Electric during the 3rd quarter worth about $205,000. Petredis Investment Advisors LLC grew its stake in General Electric by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 54,032 shares of the conglomerate’s stock valued at $10,189,000 after purchasing an additional 214 shares during the last quarter. Finally, Magnus Financial Group LLC increased its holdings in shares of General Electric by 46.9% in the third quarter. Magnus Financial Group LLC now owns 3,383 shares of the conglomerate’s stock valued at $638,000 after purchasing an additional 1,080 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 0.8 %

General Electric stock opened at $192.18 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The stock has a market capitalization of $210.36 billion, a PE ratio of 63.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The business has a 50 day simple moving average of $177.46 and a 200-day simple moving average of $166.91. General Electric has a 12 month low of $84.42 and a 12 month high of $194.33.

General Electric (NYSE:GE) last issued 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. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. On average, analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The business 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 $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is presently 36.72%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Citigroup lifted their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company upped their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Barclays raised their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Jefferies Financial Group upped their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.