Pittenger & Anderson Inc. Purchases 898 Shares of General Electric (NYSE:GE)

Pittenger & Anderson Inc. grew its position in shares of General Electric (NYSE:GE) by 615.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,044 shares of the conglomerate’s stock after buying an additional 898 shares during the period. Pittenger & Anderson Inc.’s holdings in General Electric were worth $197,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Studio Investment Management LLC increased its position in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the period. Toth Financial Advisory Corp bought a new position in General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in General Electric during the 3rd quarter worth $27,000. MFA Wealth Advisors LLC bought a new position in General Electric during the 2nd quarter worth $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of General Electric during the 2nd quarter worth $32,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE stock opened at $175.26 on Wednesday. The business’s 50-day moving average price is $180.29 and its 200-day moving average price is $169.51. General Electric has a 12 month low of $86.83 and a 12 month high of $194.80. The firm has a market capitalization of $189.68 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 1.70 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

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

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. General Electric’s dividend payout ratio (DPR) is 19.68%.

Analyst Ratings Changes

Several research firms have recently issued reports on GE. Sanford C. Bernstein increased their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Bank of America increased their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Melius Research increased their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Wells Fargo & Company raised their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, UBS Group raised their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

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.