Black Point Wealth Management Purchases Shares of 1,116 General Electric (NYSE:GE)

Black Point Wealth Management acquired a new position in shares of General Electric (NYSE:GE) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 1,116 shares of the conglomerate’s stock, valued at approximately $211,000.

Several other institutional investors have also recently modified their holdings of the stock. Studio Investment Management LLC raised its position in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric during the second quarter worth $31,000. Financial Connections Group Inc. purchased a new stake in shares of General Electric in the second quarter valued at $32,000. Richardson Financial Services Inc. purchased a new stake in shares of General Electric in the first quarter valued at $34,000. Finally, Macroview Investment Management LLC increased its stake 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 purchasing an additional 58 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Down 0.0 %

NYSE:GE traded down $0.01 during trading hours on Friday, hitting $192.61. The stock had a trading volume of 3,075,931 shares, compared to its average volume of 6,334,083. The company has a market cap of $210.83 billion, a PE ratio of 63.15, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The business has a 50 day simple moving average of $178.51 and a two-hundred day simple moving average of $167.42. General Electric has a 1-year low of $84.42 and a 1-year high of $194.80. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released its quarterly earnings results 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. The business had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS. Analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

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

Analyst Ratings Changes

GE has been the subject of several recent analyst reports. Sanford C. Bernstein lifted their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup boosted their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Barclays increased their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. UBS Group lifted their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Finally, Jefferies Financial Group increased their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $196.86.

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.