Summit Financial Strategies Inc. Makes New $200,000 Investment in General Electric (NYSE:GE)

Summit Financial Strategies Inc. purchased a new position in General Electric (NYSE:GE) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,062 shares of the conglomerate’s stock, valued at approximately $200,000.

Several other institutional investors also recently added to or reduced their stakes in the business. nVerses Capital LLC increased its position in General Electric by 17.0% in the 3rd quarter. nVerses Capital LLC now owns 5,500 shares of the conglomerate’s stock worth $1,037,000 after buying an additional 800 shares during the period. One Wealth Advisors LLC increased its position in shares of General Electric by 9.0% during the third quarter. One Wealth Advisors LLC now owns 1,808 shares of the conglomerate’s stock valued at $341,000 after purchasing an additional 150 shares during the period. Naviter Wealth LLC bought a new stake in shares of General Electric during the third quarter valued at approximately $213,000. Hengehold Capital Management LLC increased its position in shares of General Electric by 4.1% during the third quarter. Hengehold Capital Management LLC now owns 5,413 shares of the conglomerate’s stock valued at $1,021,000 after purchasing an additional 214 shares during the period. Finally, FLC Capital Advisors bought a new stake in shares of General Electric during the third quarter valued at approximately $230,000. 74.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. UBS Group boosted their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Citigroup boosted their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays boosted their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Jefferies Financial Group boosted their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Two 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 a consensus rating of “Moderate Buy” and an average price target of $196.86.

General Electric Trading Up 0.4 %

Shares of GE traded up $0.81 during trading hours on Thursday, hitting $192.99. 840,001 shares of the stock traded hands, compared to its average volume of 6,341,038. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1-year low of $84.42 and a 1-year high of $194.80. The firm has a market capitalization of $211.25 billion, a PE ratio of 63.32, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The business has a fifty day moving average of $177.46 and a 200-day moving average of $166.91.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 earnings per share. Analysts expect that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

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.