Symphony Financial Ltd. Co. Has $374,000 Stake in General Electric (NYSE:GE)

Symphony Financial Ltd. Co. boosted its position in shares of General Electric (NYSE:GE) by 34.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,015 shares of the conglomerate’s stock after purchasing an additional 513 shares during the period. Symphony Financial Ltd. Co.’s holdings in General Electric were worth $374,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Studio Investment Management LLC boosted its stake 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 in the last quarter. Toth Financial Advisory Corp bought a new position in General Electric in the 3rd quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new position in General Electric in the 2nd quarter valued at approximately $31,000. Financial Connections Group Inc. bought a new position in General Electric in the 2nd quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. bought a new position in General Electric in the 1st quarter valued at approximately $34,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Trading Down 9.1 %

Shares of GE opened at $176.59 on Wednesday. The business’s 50-day moving average price is $179.24 and its 200-day moving average price is $168.05. General Electric has a twelve month low of $84.58 and a twelve month high of $194.80. The stock has a market cap of $193.30 billion, a PE ratio of 57.90, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. On average, equities analysts forecast that General Electric will post 4.2 EPS 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 given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is presently 36.72%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GE. Barclays raised their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Melius Research raised their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday. Wells Fargo & Company lifted their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada lifted their price objective on shares of General Electric from $190.00 to $210.00 in a research note on Tuesday. Finally, StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $198.53.

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.