Sax Wealth Advisors LLC Acquires 879 Shares of General Electric (NYSE:GE)

Sax Wealth Advisors LLC raised its position in General Electric (NYSE:GE) by 20.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,228 shares of the conglomerate’s stock after acquiring an additional 879 shares during the period. Sax Wealth Advisors LLC’s holdings in General Electric were worth $986,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Studio Investment Management LLC raised its stake in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the period. MFA Wealth Advisors LLC purchased a new position in shares of General Electric in the 2nd quarter valued at about $31,000. Kapitalo Investimentos Ltda purchased a new position in General Electric during the 4th quarter valued at about $32,000. Financial Connections Group Inc. purchased a new position in General Electric during the 2nd quarter valued at about $32,000. Finally, Richardson Financial Services Inc. purchased a new position in General Electric during the 1st quarter valued at about $34,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of NYSE:GE opened at $192.64 on Friday. General Electric has a twelve month low of $84.42 and a twelve month high of $194.80. The firm has a market cap of $210.87 billion, a PE ratio of 63.16, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The business has a fifty day moving average of $178.01 and a 200-day moving average of $167.09.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. On average, equities research analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GE. Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Jefferies Financial Group lifted their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday. Finally, UBS Group boosted their target price on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average target price of $196.86.

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.