Franklin Parlapiano Turner & Welch LLC Purchases New Shares in General Electric (NYSE:GE)

Franklin Parlapiano Turner & Welch LLC purchased a new position in shares of General Electric (NYSE:GE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,124 shares of the conglomerate’s stock, valued at approximately $212,000.

A number of other institutional investors have also recently added to or reduced their stakes in GE. Toth Financial Advisory Corp bought a new position in General Electric during the 3rd quarter valued at $25,000. Studio Investment Management LLC lifted its position in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. MFA Wealth Advisors LLC acquired a new position in General Electric in the second quarter worth about $31,000. Richardson Financial Services Inc. bought a new stake in General Electric in the first quarter valued at about $34,000. Finally, Financial Connections Group Inc. acquired a new stake in General Electric during the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Up 2.9 %

General Electric stock opened at $181.78 on Thursday. General Electric has a 12-month low of $84.58 and a 12-month high of $194.80. The stock has a market capitalization of $198.98 billion, a PE ratio of 59.60, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The firm has a 50 day simple moving average of $179.51 and a 200-day simple moving average of $168.15. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.82 EPS. As a group, equities research analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders 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 dividend yield of 0.62%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GE. Wells Fargo & Company lifted their target price on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays increased their price objective 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. Melius Research lifted their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, UBS Group boosted their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

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.