Valley Brook Capital Group Inc. Has $595,000 Holdings in General Electric (NYSE:GE)

Valley Brook Capital Group Inc. increased its stake in shares of General Electric (NYSE:GE) by 31.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,154 shares of the conglomerate’s stock after buying an additional 755 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in General Electric were worth $595,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Mackenzie Financial Corp increased its holdings in shares of General Electric by 10.5% during the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after buying an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC acquired a new stake in General Electric during the 2nd quarter valued at $1,569,000. GAMMA Investing LLC raised its position in General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after purchasing an additional 3,442 shares during the last quarter. Senator Investment Group LP acquired a new position in General Electric in the second quarter worth $34,973,000. Finally, Blair William & Co. IL grew its holdings in shares of General Electric by 4.4% during the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock worth $28,928,000 after purchasing an additional 7,670 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GE. Wells Fargo & Company lifted their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada reduced their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Sanford C. Bernstein increased their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup boosted their price objective 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. Finally, Melius Research increased their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Trading Down 1.0 %

GE traded down $1.73 during midday trading on Thursday, reaching $179.03. 758,160 shares of the company were exchanged, compared to its average volume of 6,277,340. The stock has a market capitalization of $193.76 billion, a P/E ratio of 31.78, a PEG ratio of 1.70 and a beta of 1.19. General Electric has a one year low of $89.59 and a one year high of $194.80. The stock’s 50-day simple moving average is $180.47 and its 200 day simple moving average is $169.59. 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 results 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 business had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company posted $0.82 EPS. As a group, analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

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

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.