General Electric (NYSE:GE) Shares Bought by Armstrong Fleming & Moore Inc

Armstrong Fleming & Moore Inc increased its stake in General Electric (NYSE:GE) by 6.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,437 shares of the conglomerate’s stock after acquiring an additional 283 shares during the quarter. Armstrong Fleming & Moore Inc’s holdings in General Electric were worth $837,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GE. Studio Investment Management LLC grew its position in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of General Electric during the second quarter valued at $31,000. Kapitalo Investimentos Ltda acquired a new position in General Electric during the fourth quarter valued at $32,000. Financial Connections Group Inc. acquired a new stake in General Electric during the 2nd quarter worth about $32,000. Finally, Richardson Financial Services Inc. purchased a new position in General Electric during the 1st quarter valued at about $34,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GE has been the subject of several research reports. Sanford C. Bernstein raised their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday. Wells Fargo & Company increased their price objective on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Barclays boosted their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $196.86.

General Electric Price Performance

NYSE GE traded up $0.75 on Thursday, reaching $192.93. The company’s stock had a trading volume of 1,097,409 shares, compared to its average volume of 6,342,158. General Electric has a 52 week low of $84.42 and a 52 week 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. The firm has a market cap of $211.18 billion, a PE ratio of 63.32, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The business has a 50-day moving average price of $177.46 and a 200 day moving average price of $166.91.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $8.44 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Sell-side analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

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

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.