General Electric (NYSE:GE) is AM Investment Strategies LLC’s 7th Largest Position

AM Investment Strategies LLC trimmed its stake in General Electric (NYSE:GE) by 0.4% during the third quarter, Holdings Channel.com reports. The fund owned 59,757 shares of the conglomerate’s stock after selling 223 shares during the period. General Electric accounts for about 2.7% of AM Investment Strategies LLC’s investment portfolio, making the stock its 7th biggest position. AM Investment Strategies LLC’s holdings in General Electric were worth $11,269,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Toth Financial Advisory Corp purchased a new position in General Electric during the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new position in shares of General Electric in the third quarter valued at approximately $27,000. Studio Investment Management LLC grew its holdings in shares of General Electric by 97.5% in the second 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 purchased a new stake in General Electric during the 2nd quarter worth approximately $31,000. Finally, Richardson Financial Services Inc. acquired a new stake in General Electric during the 1st quarter worth approximately $34,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GE has been the subject of several research reports. 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 research note on Wednesday, October 23rd. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Sanford C. Bernstein increased their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada decreased their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Citigroup upped their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Performance

NYSE GE traded down $0.08 during trading hours on Friday, hitting $171.70. The company had a trading volume of 3,984,932 shares, compared to its average volume of 6,328,877. The business has a 50 day moving average of $180.20 and a 200-day moving average of $169.01. The company has a market cap of $185.83 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18. General Electric has a 1-year low of $85.89 and a 1-year 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 1.13.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 EPS. As a group, equities research analysts expect that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. General Electric’s payout ratio is 19.68%.

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.