Fiduciary Alliance LLC Acquires Shares of 1,275 General Electric (NYSE:GE)

Fiduciary Alliance LLC acquired a new stake in General Electric (NYSE:GE) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,275 shares of the conglomerate’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GE. Studio Investment Management LLC raised its holdings 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 acquired a new position in shares of General Electric during the 2nd quarter worth $31,000. Kapitalo Investimentos Ltda acquired a new position in shares of General Electric during the 4th quarter worth $32,000. Financial Connections Group Inc. acquired a new position in shares of General Electric during the 2nd quarter worth $32,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of General Electric during the 1st quarter worth $34,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Trading Up 0.8 %

NYSE GE opened at $192.63 on Tuesday. The business’s 50-day moving average price is $176.30 and its two-hundred day moving average price is $166.63. General Electric has a 12 month low of $84.42 and a 12 month high of $193.93. The firm has a market capitalization of $210.85 billion, a PE ratio of 63.16, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating 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 firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The business’s revenue was up 3.9% on a year-over-year basis. On average, analysts expect that General Electric will post 4.2 EPS for the current 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 given a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. General Electric’s payout ratio is 36.72%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. UBS Group boosted their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada boosted their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Citigroup boosted their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.