193 Shares in General Electric (NYSE:GE) Purchased by MFA Wealth Advisors LLC

MFA Wealth Advisors LLC purchased a new stake in General Electric (NYSE:GE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 193 shares of the conglomerate’s stock, valued at approximately $31,000.

Several other institutional investors have also recently modified their holdings of GE. USA Financial Formulas raised its stake in shares of General Electric by 24,042.9% in the fourth quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock worth $1,294,000 after purchasing an additional 10,098 shares during the last quarter. Rathbones Group PLC raised its position in General Electric by 2.7% during the fourth quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock valued at $28,821,000 after purchasing an additional 5,997 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of General Electric by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate’s stock valued at $534,123,000 after buying an additional 318,245 shares during the last quarter. Vanguard Group Inc. grew its stake in General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after purchasing an additional 550,996 shares in the last quarter. Finally, Sheets Smith Wealth Management purchased a new position in General Electric in the 4th quarter worth $3,959,000. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GE shares. Citigroup raised their target price on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. JPMorgan Chase & Co. raised their price objective on General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Bank of America raised their price objective on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group increased their target price 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. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $190.38.

General Electric Price Performance

Shares of NYSE GE traded up $1.23 during trading hours on Wednesday, hitting $171.22. 4,102,644 shares of the stock were exchanged, compared to its average volume of 6,873,625. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20. The company has a market cap of $187.42 billion, a PE ratio of 56.14, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21. The company’s fifty day simple moving average is $163.80 and its two-hundred day simple moving average is $161.06.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the company posted $0.68 EPS. General Electric’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, sell-side analysts predict that General Electric will post 4.15 EPS for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insider Transactions at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.66% of the company’s stock.

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.