General Electric (NYSE:GE) is Hedges Asset Management LLC’s 2nd Largest Position

Hedges Asset Management LLC trimmed its stake in shares of General Electric (NYSE:GE) by 5.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,525 shares of the conglomerate’s stock after selling 2,200 shares during the period. General Electric accounts for 4.7% of Hedges Asset Management LLC’s portfolio, making the stock its 2nd largest holding. Hedges Asset Management LLC’s holdings in General Electric were worth $7,076,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Cavalier Investments LLC raised its stake in General Electric by 6.5% during the third quarter. Cavalier Investments LLC now owns 21,577 shares of the conglomerate’s stock valued at $4,069,000 after purchasing an additional 1,311 shares in the last quarter. Park Edge Advisors LLC lifted its stake in shares of General Electric by 1.7% in the 3rd quarter. Park Edge Advisors LLC now owns 7,842 shares of the conglomerate’s stock valued at $1,479,000 after purchasing an additional 130 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in shares of General Electric by 1.6% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 10,891 shares of the conglomerate’s stock valued at $2,054,000 after purchasing an additional 176 shares during the last quarter. Bristlecone Advisors LLC lifted its position in General Electric by 7.9% in the third quarter. Bristlecone Advisors LLC now owns 1,366 shares of the conglomerate’s stock worth $258,000 after buying an additional 100 shares during the last quarter. Finally, Modera Wealth Management LLC boosted its stake in General Electric by 8.1% during the third quarter. Modera Wealth Management LLC now owns 12,097 shares of the conglomerate’s stock worth $2,281,000 after buying an additional 906 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GE shares. Wells Fargo & Company raised their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup upped their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, 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 report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Price Performance

NYSE GE opened at $179.10 on Monday. The company has a market cap of $194.20 billion, a PE ratio of 31.48, a P/E/G ratio of 1.74 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 1.13. The firm’s 50 day moving average price is $179.90 and its 200-day moving average price is $168.56.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business earned $0.82 EPS. Sell-side analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio is presently 19.68%.

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.