FLC Capital Advisors Acquires Shares of 1,221 General Electric (NYSE:GE)

FLC Capital Advisors bought a new stake in shares of General Electric (NYSE:GE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,221 shares of the conglomerate’s stock, valued at approximately $230,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tsfg LLC raised its stake in General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after acquiring an additional 55 shares during the period. Macroview Investment Management LLC increased its holdings in General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after buying an additional 58 shares during the period. Strategic Advisors LLC lifted its position in shares of General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after buying an additional 58 shares during the last quarter. Allegheny Financial Group LTD boosted its position in shares of General Electric by 1.4% in the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after purchasing an additional 61 shares in the last quarter. Finally, New England Research & Management Inc. increased its holdings in General Electric by 2.2% in the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after buying an additional 63 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GE shares. Barclays upped their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Wells Fargo & Company increased their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Sanford C. Bernstein raised their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $196.86.

General Electric Stock Up 0.8 %

Shares of NYSE:GE opened at $192.18 on Thursday. General Electric has a 52-week low of $84.42 and a 52-week high of $194.33. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The business’s 50 day simple moving average is $177.46 and its two-hundred day simple moving average is $166.91. The firm has a market cap of $210.36 billion, a P/E ratio of 63.01, a PEG ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. As a group, research analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued 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%.

General Electric 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.