Peterson Financial Group Inc. Takes Position in General Electric (NYSE:GE)

Peterson Financial Group Inc. acquired a new position in General Electric (NYSE:GE) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 150 shares of the conglomerate’s stock, valued at approximately $28,000.

Other large investors have also recently added to or reduced their stakes in the company. Newport Trust Company LLC purchased a new stake in shares of General Electric in the second quarter valued at about $2,613,332,000. Capital World Investors lifted its stake in General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Capital International Investors lifted its stake in General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in General Electric by 221.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in General Electric during the second quarter worth $580,200,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GE has been the topic of several recent research reports. Bank of America upped their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein lifted their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada cut their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Performance

NYSE GE opened at $176.93 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a 1-year low of $93.05 and a 1-year high of $194.80. The firm has a market capitalization of $191.49 billion, a P/E ratio of 31.09, a P/E/G ratio of 1.75 and a beta of 1.19. The business’s 50-day simple moving average is $182.29 and its 200-day simple moving average is $170.63.

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

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors 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 annualized dividend and a yield of 0.63%. General Electric’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

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.