Strategic Investment Solutions Inc. IL Reduces Stock Position in General Electric (NYSE:GE)

Strategic Investment Solutions Inc. IL reduced its stake in shares of General Electric (NYSE:GE) by 31.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 901 shares of the conglomerate’s stock after selling 413 shares during the quarter. Strategic Investment Solutions Inc. IL’s holdings in General Electric were worth $170,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp acquired a new position in General Electric during the 3rd quarter worth $25,000. Studio Investment Management LLC boosted its position in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the period. MFA Wealth Advisors LLC acquired a new position in shares of General Electric in the 2nd quarter valued at $31,000. Richardson Financial Services Inc. acquired a new position in shares of General Electric in the 1st quarter valued at $34,000. Finally, Financial Connections Group Inc. acquired a new position in shares of General Electric in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

GE traded up $1.11 during midday trading on Friday, reaching $180.85. The company’s stock had a trading volume of 723,962 shares, compared to its average volume of 6,351,321. The stock has a market cap of $197.96 billion, a P/E ratio of 58.90, a PEG ratio of 1.86 and a beta of 1.18. The company has a fifty day simple moving average of $179.51 and a 200 day simple moving average of $168.15. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a twelve month low of $84.58 and a twelve month high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. 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 earned $0.82 EPS. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently issued reports on GE. Wells Fargo & Company increased their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup increased their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays increased their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Melius Research increased their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday. Finally, Jefferies Financial Group raised their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.93.

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.