Buckley Wealth Management LLC Acquires 120 Shares of General Electric (NYSE:GE)

Buckley Wealth Management LLC boosted its holdings in General Electric (NYSE:GE) by 2.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,995 shares of the conglomerate’s stock after purchasing an additional 120 shares during the quarter. Buckley Wealth Management LLC’s holdings in General Electric were worth $1,131,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Newport Trust Company LLC bought a new position in shares of General Electric in the second quarter valued at approximately $2,613,332,000. Capital World Investors lifted its stake in General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares in the last quarter. Capital International Investors boosted its holdings in General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after purchasing an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of General Electric during the second quarter valued at about $580,200,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of NYSE:GE traded down $0.01 during trading on Friday, hitting $192.61. 3,075,931 shares of the company were exchanged, compared to its average volume of 6,334,083. General Electric has a 52-week low of $84.42 and a 52-week high of $194.80. The stock has a 50 day moving average of $178.51 and a 200 day moving average of $167.42. 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 company has a market cap of $210.83 billion, a PE ratio of 63.15, a P/E/G ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The business had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 EPS. As a group, equities research analysts predict 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 paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.58%. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GE. Royal Bank of Canada upped their price objective on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Barclays increased their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. UBS Group boosted their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Citigroup boosted their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.