General Electric (NYSE:GE) Shares Acquired by MinichMacGregor Wealth Management LLC

MinichMacGregor Wealth Management LLC lifted its stake in shares of General Electric (NYSE:GE) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,022 shares of the conglomerate’s stock after purchasing an additional 228 shares during the period. MinichMacGregor Wealth Management LLC’s holdings in General Electric were worth $1,701,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of GE. Crestwood Advisors Group LLC raised its stake in General Electric by 19.5% in the 3rd quarter. Crestwood Advisors Group LLC now owns 12,905 shares of the conglomerate’s stock valued at $2,434,000 after purchasing an additional 2,106 shares during the last quarter. Hanlon Investment Management Inc. grew its holdings in shares of General Electric by 11.4% during the third quarter. Hanlon Investment Management Inc. now owns 1,503 shares of the conglomerate’s stock worth $283,000 after buying an additional 154 shares in the last quarter. Pittenger & Anderson Inc. raised its position in shares of General Electric by 615.1% in the third quarter. Pittenger & Anderson Inc. now owns 1,044 shares of the conglomerate’s stock valued at $197,000 after buying an additional 898 shares during the last quarter. Geneva Partners LLC purchased a new position in shares of General Electric in the third quarter worth about $543,000. Finally, Amalgamated Bank lifted its stake in shares of General Electric by 2.2% in the third quarter. Amalgamated Bank now owns 228,379 shares of the conglomerate’s stock worth $43,068,000 after buying an additional 4,825 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on GE shares. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup boosted their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Melius Research raised their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Trading Up 0.7 %

General Electric stock traded up $1.21 during trading on Tuesday, hitting $172.97. The company had a trading volume of 365,733 shares, compared to its average volume of 6,291,122. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company’s 50 day simple moving average is $180.21 and its 200-day simple moving average is $169.32. General Electric has a 1-year low of $86.83 and a 1-year high of $194.80. The stock has a market cap of $187.20 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19.

General Electric (NYSE:GE) last posted its quarterly earnings data 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 the consensus estimate of $9.02 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, analysts expect that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

General Electric 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.