Aaron Wealth Advisors LLC Buys 1,222 Shares of General Electric (NYSE:GE)

Aaron Wealth Advisors LLC raised its stake in shares of General Electric (NYSE:GE) by 26.9% in the third quarter, Holdings Channel reports. The fund owned 5,773 shares of the conglomerate’s stock after acquiring an additional 1,222 shares during the period. Aaron Wealth Advisors LLC’s holdings in General Electric were worth $1,089,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GE. Newport Trust Company LLC bought a new position in General Electric during the 2nd quarter valued at about $2,613,332,000. Capital World Investors increased its holdings in shares of General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Capital International Investors raised its stake in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after acquiring an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in General Electric during the 2nd quarter worth approximately $580,200,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Down 0.4 %

Shares of GE stock traded down $0.84 during trading hours on Friday, reaching $191.78. The company had a trading volume of 855,848 shares, compared to its average volume of 6,323,099. General Electric has a 1-year low of $84.42 and a 1-year high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The firm has a market cap of $209.92 billion, a price-to-earnings ratio of 62.88, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a 50 day moving average of $178.01 and a 200 day moving average of $167.09.

General Electric (NYSE:GE) last released its 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 analyst estimates of $8.44 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.58%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

Wall Street Analyst Weigh In

GE has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, StockNews.com cut 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 issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.86.

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.