General Electric (NYSE:GE) Stock Position Lifted by Valley Brook Capital Group Inc.

Valley Brook Capital Group Inc. raised its stake in General Electric (NYSE:GE) by 31.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,154 shares of the conglomerate’s stock after buying an additional 755 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in General Electric were worth $595,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GE. Studio Investment Management LLC boosted its position in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of General Electric during the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the 3rd quarter valued at approximately $27,000. MFA Wealth Advisors LLC acquired a new position in General Electric in the second quarter worth approximately $31,000. Finally, Financial Connections Group Inc. bought a new position in General Electric during the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of NYSE:GE traded down $1.73 on Thursday, hitting $179.03. 758,160 shares of the company were exchanged, compared to its average volume of 6,277,340. The company’s 50 day moving average price is $180.47 and its two-hundred day moving average price is $169.59. The firm has a market capitalization of $193.76 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 1.70 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a one year low of $89.59 and a one year high of $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts expect that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Royal Bank of Canada dropped their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Bank of America increased their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

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.