Diversify Wealth Management LLC Acquires 360 Shares of General Electric (NYSE:GE)

Diversify Wealth Management LLC increased its holdings in General Electric (NYSE:GE) by 8.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,685 shares of the conglomerate’s stock after purchasing an additional 360 shares during the period. Diversify Wealth Management LLC’s holdings in General Electric were worth $851,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norden Group LLC purchased a new stake in shares of General Electric during the first quarter valued at approximately $3,044,000. Cornerstone Wealth Management LLC boosted its position in General Electric by 12.0% during the 1st quarter. Cornerstone Wealth Management LLC now owns 8,959 shares of the conglomerate’s stock valued at $1,573,000 after buying an additional 963 shares during the period. First Trust Direct Indexing L.P. grew its holdings in General Electric by 18.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 12,960 shares of the conglomerate’s stock worth $2,275,000 after acquiring an additional 2,024 shares during the last quarter. Veracity Capital LLC purchased a new position in shares of General Electric in the first quarter valued at about $243,000. Finally, FORVIS Wealth Advisors LLC raised its stake in shares of General Electric by 3.9% during the first quarter. FORVIS Wealth Advisors LLC now owns 9,289 shares of the conglomerate’s stock valued at $1,630,000 after acquiring an additional 352 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

NYSE GE opened at $174.70 on Thursday. The business’s fifty day moving average is $180.14 and its 200 day moving average is $168.87. 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 fifty-two week low of $84.66 and a fifty-two week high of $194.80. The company has a market capitalization of $189.08 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18.

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

General Electric Announces Dividend

The business 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 of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. General Electric’s dividend payout ratio is 19.68%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup boosted their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Melius Research raised their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. 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 research report on Wednesday, October 23rd. Finally, Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.