Milestones Administradora de Recursos Ltda. Makes New Investment in General Electric (NYSE:GE)

Milestones Administradora de Recursos Ltda. bought a new position in shares of General Electric (NYSE:GE) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 61,860 shares of the conglomerate’s stock, valued at approximately $11,666,000. General Electric makes up about 4.6% of Milestones Administradora de Recursos Ltda.’s investment portfolio, making the stock its 5th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Studio Investment Management LLC lifted its holdings in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. Toth Financial Advisory Corp purchased a new stake in General Electric in the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric during the 3rd quarter valued at $27,000. MFA Wealth Advisors LLC purchased a new position in General Electric during the second quarter worth $31,000. Finally, Financial Connections Group Inc. purchased a new stake in General Electric in the 2nd quarter valued at about $32,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GE shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. UBS Group boosted their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada decreased their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Up 0.7 %

NYSE GE traded up $1.29 during mid-day trading on Wednesday, reaching $175.34. 815,936 shares of the company’s stock traded hands, compared to its average volume of 6,331,890. 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 has a 1-year low of $84.66 and a 1-year high of $194.80. The company has a fifty day simple moving average of $180.07 and a 200-day simple moving average of $168.82. The company has a market cap of $189.77 billion, a price-to-earnings ratio of 30.75, a P/E/G ratio of 1.74 and a beta of 1.18.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

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