Gateway Wealth Partners LLC Invests $208,000 in General Electric (NYSE:GE)

Gateway Wealth Partners LLC purchased a new position in shares of General Electric (NYSE:GE) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 1,102 shares of the conglomerate’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Toth Financial Advisory Corp purchased a new stake in shares of General Electric during the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric during the 3rd quarter worth about $27,000. Studio Investment Management LLC raised its stake in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric during the 2nd quarter worth about $31,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of General Electric during the 1st quarter worth about $34,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on GE. Bank of America raised their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein raised their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company raised their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Citigroup raised their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Price Performance

Shares of NYSE:GE opened at $174.13 on Wednesday. General Electric has a 1-year low of $84.66 and a 1-year high of $194.80. The firm has a market capitalization of $188.46 billion, a PE ratio of 30.60, a PEG ratio of 1.74 and a beta of 1.18. The business’s 50 day moving average is $180.07 and its 200-day moving average is $168.82. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

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 18.93% and a net margin of 11.48%. 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. Sell-side analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is presently 19.68%.

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.