Almanack Investment Partners LLC. purchased a new stake in General Electric (NYSE:GE – Get Rating) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 1,582 shares of the conglomerate’s stock, valued at approximately $98,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Coston McIsaac & Partners acquired a new stake in General Electric in the 2nd quarter valued at about $25,000. Standard Family Office LLC acquired a new stake in General Electric in the 3rd quarter valued at about $29,000. RE Dickinson Investment Advisors LLC raised its holdings in General Electric by 37.5% in the 3rd quarter. RE Dickinson Investment Advisors LLC now owns 477 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 130 shares during the last quarter. Global Wealth Management Investment Advisory Inc. raised its holdings in General Electric by 808.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 299 shares during the last quarter. Finally, Avion Wealth raised its holdings in General Electric by 794.8% in the 2nd quarter. Avion Wealth now owns 519 shares of the conglomerate’s stock valued at $33,000 after acquiring an additional 461 shares during the last quarter. 70.12% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on GE. Deutsche Bank Aktiengesellschaft raised their price target on shares of General Electric from $89.00 to $94.00 in a report on Monday, December 5th. Wells Fargo & Company cut their price target on shares of General Electric from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, January 25th. Royal Bank of Canada raised their price target on shares of General Electric from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, March 10th. Barclays raised their price target on shares of General Electric from $81.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. Finally, Oppenheimer lifted their target price on shares of General Electric from $82.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, March 8th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.86.
General Electric Stock Performance
General Electric (NYSE:GE – Get Rating) last issued its quarterly earnings results on Tuesday, January 24th. The conglomerate reported $1.24 EPS for the quarter, beating the consensus estimate of $1.11 by $0.13. The company had revenue of $21.79 billion during the quarter, compared to analysts’ expectations of $22.11 billion. General Electric had a net margin of 0.29% and a return on equity of 8.47%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 EPS. On average, research analysts predict that General Electric will post 1.95 EPS for the current fiscal year.
General Electric Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 25th. Stockholders of record on Tuesday, March 7th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.35%. General Electric’s payout ratio is currently -1,066.67%.
About General Electric
General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.
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