Bristlecone Advisors LLC Purchases 100 Shares of General Electric (NYSE:GE)

Bristlecone Advisors LLC raised its holdings in shares of General Electric (NYSE:GE) by 7.9% in the third quarter, HoldingsChannel.com reports. The firm owned 1,366 shares of the conglomerate’s stock after buying an additional 100 shares during the period. Bristlecone Advisors LLC’s holdings in General Electric were worth $258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Studio Investment Management LLC increased its position in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in General Electric during the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric during the 3rd quarter worth approximately $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric in the second quarter worth approximately $31,000. Finally, Financial Connections Group Inc. bought a new position in shares of General Electric in the second quarter valued at approximately $32,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.4 %

Shares of NYSE GE opened at $179.10 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a market capitalization of $194.20 billion, a PE ratio of 31.48, a P/E/G ratio of 1.74 and a beta of 1.18. General Electric has a one year low of $84.58 and a one year high of $194.80. The business’s fifty day moving average price is $179.90 and its 200-day moving average price is $168.56.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 earnings per share. On average, equities research analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. General Electric’s dividend payout ratio is currently 19.68%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Melius Research upped their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Barclays increased their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. UBS Group boosted their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein upped their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.