TriaGen Wealth Management LLC Grows Stock Holdings in General Electric (NYSE:GE)

TriaGen Wealth Management LLC raised its stake in General Electric (NYSE:GE) by 9.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,571 shares of the conglomerate’s stock after buying an additional 488 shares during the period. TriaGen Wealth Management LLC’s holdings in General Electric were worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of GE. Studio Investment Management LLC raised its holdings 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 purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of General Electric in the 2nd quarter valued at about $31,000. Kapitalo Investimentos Ltda bought a new stake in shares of General Electric in the 4th quarter valued at about $32,000. Financial Connections Group Inc. bought a new stake in shares of General Electric in the 2nd quarter valued at about $32,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of General Electric in the 1st quarter valued at about $34,000. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Sanford C. Bernstein boosted their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Jefferies Financial Group boosted their price objective 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Citigroup upped their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $196.86.

General Electric Stock Performance

Shares of GE stock traded down $0.01 during trading hours on Friday, hitting $192.61. The company’s stock had a trading volume of 3,075,931 shares, compared to its average volume of 6,334,083. The company has a 50 day moving average of $178.51 and a 200 day moving average of $167.21. The stock has a market cap of $210.83 billion, a PE ratio of 63.12, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. 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 12-month low of $84.42 and a 12-month high of $194.80.

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

General Electric Dividend Announcement

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

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.