Wolff Wiese Magana LLC Purchases 132 Shares of General Electric (NYSE:GE)

Wolff Wiese Magana LLC grew its holdings in General Electric (NYSE:GE) by 50.4% during the 3rd quarter, Holdings Channel reports. The firm owned 394 shares of the conglomerate’s stock after purchasing an additional 132 shares during the period. Wolff Wiese Magana LLC’s holdings in General Electric were worth $74,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GE. Studio Investment Management LLC increased its holdings in 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 during the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric in the 2nd quarter valued at approximately $31,000. Kapitalo Investimentos Ltda bought a new position in General Electric during the 4th quarter worth approximately $32,000. Financial Connections Group Inc. acquired a new position in General Electric during the second quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. bought a new stake in General Electric in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 0.8 %

Shares of GE stock opened at $192.18 on Thursday. The firm’s fifty day moving average price is $177.46 and its two-hundred day moving average price is $166.91. 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 1 year low of $84.42 and a 1 year high of $194.33. The firm has a market capitalization 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, beating the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter last year, the company earned $0.68 EPS. General Electric’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GE. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Jefferies Financial Group boosted their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. UBS Group raised their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Royal Bank of Canada boosted their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company raised their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $196.86.

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.