Radnor Capital Management LLC Buys New Stake in General Electric (NYSE:GE)

Radnor Capital Management LLC acquired a new position in General Electric (NYSE:GE) during the third quarter, Holdings Channel.com reports. The firm acquired 27,879 shares of the conglomerate’s stock, valued at approximately $5,257,000. General Electric makes up approximately 0.8% of Radnor Capital Management LLC’s portfolio, making the stock its 25th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Catalina Capital Group LLC lifted its holdings in General Electric by 7.5% in the 3rd quarter. Catalina Capital Group LLC now owns 3,468 shares of the conglomerate’s stock worth $654,000 after buying an additional 243 shares in the last quarter. Beacon Financial Advisory LLC bought a new stake in shares of General Electric during the 3rd quarter valued at about $219,000. Avidian Wealth Enterprises LLC grew its position in shares of General Electric by 7.3% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 2,341 shares of the conglomerate’s stock valued at $441,000 after buying an additional 160 shares during the last quarter. Marks Group Wealth Management Inc grew its position in shares of General Electric by 221.5% during the 3rd quarter. Marks Group Wealth Management Inc now owns 11,933 shares of the conglomerate’s stock valued at $2,250,000 after buying an additional 8,221 shares during the last quarter. Finally, Cornerstone Capital Inc. bought a new stake in shares of General Electric during the 3rd quarter valued at about $212,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 2.0 %

GE stock opened at $175.26 on Wednesday. General Electric has a 12 month low of $86.83 and a 12 month high of $194.80. The firm has a market cap of $189.68 billion, a PE ratio of 30.80, a P/E/G ratio of 1.70 and a beta of 1.19. The firm has a 50 day simple moving average of $180.29 and a 200 day simple moving average of $169.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same period in the prior year, the business earned $0.82 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently declared 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 of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Analyst Ratings Changes

GE has been the subject of several recent analyst reports. Citigroup upped their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group upped their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Bank of America upped their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, General Electric 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.