General Electric (NYSE:GE) Shares Purchased by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC raised its holdings in General Electric (NYSE:GE) by 81.1% during the third quarter, Holdings Channel.com reports. The firm owned 14,504 shares of the conglomerate’s stock after purchasing an additional 6,494 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in General Electric were worth $2,735,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Toth Financial Advisory Corp acquired a new position in shares of General Electric during the 3rd quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in General Electric during the third quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric during the third quarter worth about $27,000. Peterson Financial Group Inc. purchased a new position in General Electric in the third quarter valued at about $28,000. Finally, 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. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Melius Research upped their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Wells Fargo & Company upped their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Bank of America increased their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Trading Up 0.4 %

Shares of GE opened at $177.58 on Tuesday. General Electric has a fifty-two week low of $94.54 and a fifty-two week high of $194.80. The company has a market capitalization of $192.19 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. The stock has a fifty day moving average of $182.54 and a two-hundred day moving average of $170.81. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the prior year, the firm posted $0.82 EPS. The company’s revenue was up 5.8% on a year-over-year basis. As a group, analysts forecast 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. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Transactions at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.66% of the company’s stock.

General Electric Company 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.