General Electric (NYSE:GE) Shares Acquired by Petredis Investment Advisors LLC

Petredis Investment Advisors LLC lifted its holdings in shares of General Electric (NYSE:GE) by 0.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,032 shares of the conglomerate’s stock after purchasing an additional 214 shares during the quarter. General Electric comprises about 1.1% of Petredis Investment Advisors LLC’s holdings, making the stock its 23rd biggest holding. Petredis Investment Advisors LLC’s holdings in General Electric were worth $10,189,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GE. Macroview Investment Management LLC raised its holdings in General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. Strategic Advisors LLC raised its holdings in General Electric by 2.6% in the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after acquiring an additional 58 shares in the last quarter. Allegheny Financial Group LTD raised its holdings in General Electric by 1.4% in the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after acquiring an additional 61 shares in the last quarter. New England Research & Management Inc. increased its stake in General Electric by 2.2% in the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after purchasing an additional 63 shares during the last quarter. Finally, Certified Advisory Corp increased its stake in General Electric by 1.0% in the second quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock valued at $1,045,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE:GE opened at $190.57 on Wednesday. The firm’s fifty day moving average price is $176.86 and its 200 day moving average price is $166.73. General Electric has a 1-year low of $84.42 and a 1-year high of $194.33. 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 $208.60 billion, a price-to-earnings ratio of 62.48, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.

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

General Electric Announces Dividend

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 given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.59%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Wall Street Analyst Weigh In

Several equities analysts have commented on GE shares. Sanford C. Bernstein increased their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday. UBS Group increased their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Barclays increased their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company increased their price target 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. Finally, Citigroup increased their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. 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 $196.86.

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.