West Branch Capital LLC Has $196,000 Position in General Electric (NYSE:GE)

West Branch Capital LLC raised its stake in shares of General Electric (NYSE:GE) by 234.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,040 shares of the conglomerate’s stock after buying an additional 729 shares during the quarter. West Branch Capital LLC’s holdings in General Electric were worth $196,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GE. Studio Investment Management LLC lifted its stake in General Electric by 97.5% in 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 in the last quarter. MFA Wealth Advisors LLC bought a new stake in General Electric in the 2nd quarter valued at approximately $31,000. Financial Connections Group Inc. bought a new stake in General Electric in the 2nd quarter valued at approximately $32,000. Richardson Financial Services Inc. bought a new stake in General Electric in the 1st quarter valued at approximately $34,000. Finally, Macroview Investment Management LLC lifted its stake in General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Sanford C. Bernstein upped their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Barclays upped their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. UBS Group upped their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Finally, Wells Fargo & Company upped their price objective on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $196.86.

General Electric Trading Down 0.0 %

Shares of GE traded down $0.01 during mid-day trading on Friday, reaching $192.61. 3,075,931 shares of the company were exchanged, compared to its average volume of 6,334,083. General Electric has a 52 week low of $84.42 and a 52 week high of $194.80. 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 stock has a market capitalization of $210.83 billion, a PE ratio of 63.15, a PEG ratio of 1.86 and a beta of 1.18. The business has a 50 day simple moving average of $178.51 and a two-hundred day simple moving average of $167.42.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $8.44 billion. During the same period last year, the company earned $0.68 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. On average, analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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

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.