Strategic Advocates LLC Takes $2.87 Million Position in General Electric (NYSE:GE)

Strategic Advocates LLC acquired a new stake in General Electric (NYSE:GE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 15,196 shares of the conglomerate’s stock, valued at approximately $2,866,000. General Electric accounts for approximately 1.0% of Strategic Advocates LLC’s holdings, making the stock its 20th biggest holding.

Other institutional investors also recently bought and sold shares of the company. Studio Investment Management LLC increased its stake in 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 buying an additional 78 shares during the period. MFA Wealth Advisors LLC acquired a new position in shares of General Electric during the 2nd quarter worth $31,000. Kapitalo Investimentos Ltda acquired a new position in shares of General Electric during the 4th quarter worth $32,000. Financial Connections Group Inc. acquired a new position in shares of General Electric during the 2nd quarter worth $32,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of General Electric during the 1st quarter worth $34,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Trading Down 0.0 %

GE traded down $0.01 on Friday, reaching $192.61. 1,119,775 shares of the company’s stock were exchanged, compared to its average volume of 6,324,405. The company’s 50 day moving average is $178.01 and its 200-day moving average is $167.09. The company has a market cap of $210.83 billion, a price-to-earnings ratio of 62.88, a PEG ratio of 1.86 and a beta of 1.18. General Electric has a twelve month low of $84.42 and a twelve month high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (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 the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. Equities analysts predict 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 will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.58%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 36.72%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GE. Jefferies Financial Group upped their price target 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 boosted their price objective on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Citigroup boosted their price objective 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. Finally, UBS Group upped 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 equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $196.86.

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.