Wealth Enhancement Advisory Services LLC Raises Holdings in General Electric (NYSE:GE)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of General Electric (NYSE:GE) by 0.0% in the third quarter, HoldingsChannel reports. The firm owned 546,343 shares of the conglomerate’s stock after acquiring an additional 85 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in General Electric were worth $103,029,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Tsfg LLC increased its stake in shares of General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares in the last quarter. Macroview Investment Management LLC increased its stake in shares of General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. Strategic Advisors LLC increased its stake in shares of General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after purchasing an additional 58 shares in the last quarter. Allegheny Financial Group LTD increased its stake in shares of General Electric by 1.4% during the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after purchasing an additional 61 shares in the last quarter. Finally, New England Research & Management Inc. grew its stake in General Electric by 2.2% in the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after acquiring an additional 63 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Down 0.4 %

GE stock traded down $0.64 during trading on Friday, reaching $179.10. The stock had a trading volume of 3,974,941 shares, compared to its average volume of 6,367,015. General Electric has a 1-year low of $84.58 and a 1-year 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 company has a market capitalization of $196.04 billion, a P/E ratio of 58.74, a PEG ratio of 1.86 and a beta of 1.18. The firm has a fifty day moving average price of $179.90 and a 200 day moving average price of $168.38.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the previous year, the business posted $0.82 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, equities analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

GE has been the subject of several recent analyst reports. Jefferies Financial Group lifted their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday. Bank of America lifted their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company lifted their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Melius Research lifted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $200.93.

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.