General Electric (NYSE:GE) Shares Bought by Good Life Advisors LLC

Good Life Advisors LLC grew its stake in General Electric (NYSE:GE) by 111.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,736 shares of the conglomerate’s stock after acquiring an additional 8,277 shares during the quarter. Good Life Advisors LLC’s holdings in General Electric were worth $2,966,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GE. Virtu Financial LLC increased its position in shares of General Electric by 38.0% during the fourth quarter. Virtu Financial LLC now owns 3,865 shares of the conglomerate’s stock valued at $493,000 after acquiring an additional 1,064 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of General Electric by 1.6% during the fourth quarter. Wellington Management Group LLP now owns 133,618 shares of the conglomerate’s stock worth $17,054,000 after buying an additional 2,055 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of General Electric in the fourth quarter valued at $32,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of General Electric by 5.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 3,323 shares of the conglomerate’s stock valued at $583,000 after buying an additional 167 shares during the period. Finally, Foster Group Inc. lifted its stake in General Electric by 16.8% during the 1st quarter. Foster Group Inc. now owns 2,623 shares of the conglomerate’s stock worth $460,000 after acquiring an additional 377 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Barclays boosted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Citigroup increased their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Jefferies Financial Group raised their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada upped their price objective on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, UBS Group lifted their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.86.

General Electric Stock Performance

Shares of General Electric stock traded up $0.95 on Thursday, hitting $193.13. The stock had a trading volume of 896,226 shares, compared to its average volume of 6,341,397. The stock has a market cap of $211.40 billion, a price-to-earnings ratio of 63.32, a P/E/G 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 has a 52-week low of $84.42 and a 52-week high of $194.80. The company’s 50 day moving average price is $177.46 and its 200 day moving average price is $166.91.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the prior year, the business earned $0.68 EPS. General Electric’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, research analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

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.