Silvant Capital Management LLC Raises Stake in General Electric (NYSE:GE)

Silvant Capital Management LLC increased its holdings in shares of General Electric (NYSE:GE) by 56.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 208,588 shares of the conglomerate’s stock after purchasing an additional 75,327 shares during the quarter. General Electric accounts for about 1.7% of Silvant Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Silvant Capital Management LLC’s holdings in General Electric were worth $39,373,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GE. Toth Financial Advisory Corp purchased a new stake in shares of General Electric during the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric in the 3rd quarter worth $27,000. Studio Investment Management LLC boosted its position 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 buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric during the second quarter worth about $31,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of General Electric in the first quarter worth about $34,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on GE shares. Melius Research upped their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Sanford C. Bernstein increased their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada decreased their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, UBS Group lifted their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Performance

Shares of GE opened at $171.70 on Friday. General Electric has a 12-month low of $85.89 and a 12-month high of $194.80. The stock has a market capitalization of $185.83 billion, a P/E ratio of 30.18, a P/E/G ratio of 1.72 and a beta of 1.18. The firm’s 50 day moving average is $180.20 and its 200-day moving average is $169.01. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business 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 18.93% and a net margin of 11.48%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 EPS. Equities research analysts anticipate that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

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.