M3 Advisory Group LLC Acquires Shares of 1,133 General Electric (NYSE:GE)

M3 Advisory Group LLC acquired a new stake in General Electric (NYSE:GE) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 1,133 shares of the conglomerate’s stock, valued at approximately $214,000.

A number of other institutional investors also recently added to or reduced their stakes in GE. Studio Investment Management LLC lifted its position in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the period. MFA Wealth Advisors LLC acquired a new position in shares of General Electric during the 2nd quarter worth approximately $31,000. Kapitalo Investimentos Ltda acquired a new position in shares of General Electric during the 4th quarter worth approximately $32,000. Financial Connections Group Inc. acquired a new position in shares of General Electric during the 2nd quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of General Electric during the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.5 %

Shares of General Electric stock traded down $0.99 during trading hours on Friday, hitting $191.63. 810,454 shares of the company’s stock traded hands, compared to its average volume of 6,322,874. The stock has a 50 day simple moving average of $178.01 and a 200-day simple moving average of $167.09. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The company has a market cap of $209.76 billion, a PE ratio of 63.16, a PEG ratio of 1.86 and a beta of 1.18. General Electric has a twelve month low of $84.42 and a twelve month high of $194.80.

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

General Electric Dividend Announcement

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

Analysts Set New Price Targets

GE has been the subject of several analyst reports. UBS Group boosted their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Jefferies Financial Group boosted their price target on 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 boosted their price target on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Barclays boosted their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $196.86.

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.