Genesee Capital Advisors LLC Acquires 3,127 Shares of General Electric (NYSE:GE)

Genesee Capital Advisors LLC raised its holdings in General Electric (NYSE:GE) by 172.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,942 shares of the conglomerate’s stock after purchasing an additional 3,127 shares during the quarter. Genesee Capital Advisors LLC’s holdings in General Electric were worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Studio Investment Management LLC lifted its position 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 valued at $25,000 after buying an additional 78 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in shares of General Electric during the 3rd quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new position in shares of General Electric during the 2nd quarter valued at $31,000. Financial Connections Group Inc. purchased a new position in shares of General Electric during the 2nd quarter valued at $32,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of General Electric during the 1st quarter valued at $34,000. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of General Electric stock traded up $0.69 during trading on Monday, hitting $193.30. 2,181,634 shares of the stock traded hands, compared to its average volume of 6,313,633. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The stock has a market cap of $211.59 billion, a price-to-earnings ratio of 63.31, a PEG ratio of 1.86 and a beta of 1.18. The firm’s fifty day moving average is $178.51 and its 200-day moving average is $167.58. General Electric has a 52 week low of $84.58 and a 52 week high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.68 EPS. Research analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently declared 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 of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.58%. General Electric’s payout ratio is 36.72%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GE shares. Barclays upped their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company increased their price objective on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Jefferies Financial Group increased their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $196.86.

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.