Prospera Private Wealth LLC Invests $1.48 Million in General Electric (NYSE:GE)

Prospera Private Wealth LLC purchased a new position in General Electric (NYSE:GE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,851 shares of the conglomerate’s stock, valued at approximately $1,480,000.

A number of other hedge funds also recently bought and sold shares of the business. Toth Financial Advisory Corp bought a new position in shares of General Electric in the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric during the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric in the third quarter worth $27,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric in the 3rd quarter worth about $28,000. Finally, Studio Investment Management LLC boosted its stake 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 worth $25,000 after purchasing an additional 78 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GE. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Bank of America increased their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. UBS Group increased their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Up 0.0 %

Shares of NYSE GE opened at $177.56 on Wednesday. General Electric has a 12-month low of $94.54 and a 12-month high of $194.80. The stock’s fifty day simple moving average is $182.75 and its two-hundred day simple moving average is $170.91. The stock has a market capitalization of $192.17 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 earnings per share. As a group, analysts expect that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the 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 completion of the sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

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.