Franklin Parlapiano Turner & Welch LLC Takes Position in General Electric (NYSE:GE)

Franklin Parlapiano Turner & Welch LLC purchased a new stake in General Electric (NYSE:GE) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,124 shares of the conglomerate’s stock, valued at approximately $212,000.

A number of other institutional investors have also recently bought and sold shares of GE. Wellington Management Group LLP lifted its position in shares of General Electric by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 133,618 shares of the conglomerate’s stock valued at $17,054,000 after acquiring an additional 2,055 shares in the last quarter. Brookstone Capital Management lifted its holdings in shares of General Electric by 14.4% in the first quarter. Brookstone Capital Management now owns 21,347 shares of the conglomerate’s stock valued at $3,747,000 after purchasing an additional 2,682 shares in the last quarter. Sovereign Financial Group Inc. boosted its position in shares of General Electric by 74.9% in the first quarter. Sovereign Financial Group Inc. now owns 2,934 shares of the conglomerate’s stock worth $515,000 after buying an additional 1,256 shares during the period. Wealthcare Advisory Partners LLC grew its holdings in shares of General Electric by 6.6% during the first quarter. Wealthcare Advisory Partners LLC now owns 9,377 shares of the conglomerate’s stock valued at $1,646,000 after buying an additional 579 shares in the last quarter. Finally, Investment Partners LTD. acquired a new position in General Electric during the first quarter valued at $257,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday. Wells Fargo & Company raised their price target on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. UBS Group lifted their target price on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada lowered their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Up 2.9 %

Shares of GE stock opened at $181.78 on Thursday. The stock’s 50 day simple moving average is $179.51 and its 200 day simple moving average is $168.15. General Electric has a twelve month low of $84.58 and a twelve month high of $194.80. 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 capitalization of $198.98 billion, a price-to-earnings ratio of 59.60, a PEG ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is 36.72%.

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.