Waldron Private Wealth LLC Purchases 167 Shares of General Electric (NYSE:GE)

Waldron Private Wealth LLC grew its stake in General Electric (NYSE:GE) by 2.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,043 shares of the conglomerate’s stock after purchasing an additional 167 shares during the period. Waldron Private Wealth LLC’s holdings in General Electric were worth $1,328,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Studio Investment Management LLC increased its holdings in 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 during the period. Toth Financial Advisory Corp acquired a new stake in General Electric during the 3rd quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new position in shares of General Electric in the 2nd quarter valued at about $31,000. Financial Connections Group Inc. acquired a new position in shares of General Electric in the 2nd quarter valued at about $32,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of General Electric in the 1st quarter valued at about $34,000. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Barclays upped their price target 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 upped their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday. Finally, UBS Group increased their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $198.53.

General Electric Stock Down 8.8 %

Shares of General Electric stock traded down $17.02 during midday trading on Tuesday, reaching $177.21. 13,783,736 shares of the company’s stock traded hands, compared to its average volume of 6,359,087. The company has a market cap of $193.98 billion, a price-to-earnings ratio of 57.87, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. General Electric has a 52 week low of $84.58 and a 52 week 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’s 50 day simple moving average is $179.06 and its 200 day simple moving average is $167.91.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $0.68 EPS. Equities analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 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.