FSM Wealth Advisors LLC Buys 245 Shares of General Electric (NYSE:GE)

FSM Wealth Advisors LLC boosted its stake in shares of General Electric (NYSE:GE) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,257 shares of the conglomerate’s stock after acquiring an additional 245 shares during the quarter. FSM Wealth Advisors LLC’s holdings in General Electric were worth $991,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Newport Trust Company LLC bought a new position in General Electric in the 2nd quarter valued at $2,613,332,000. Capital World Investors raised its holdings in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares during the last quarter. Capital International Investors raised its holdings in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in General Electric by 221.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after acquiring an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in General Electric in the 2nd quarter valued at about $580,200,000. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GE has been the topic of several research reports. Wells Fargo & Company upped their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada decreased their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Citigroup boosted their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays raised their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

GE opened at $171.76 on Tuesday. The company has a fifty day simple moving average of $180.21 and a 200 day simple moving average of $169.32. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock has a market cap of $185.89 billion, a P/E ratio of 30.19, a P/E/G ratio of 1.70 and a beta of 1.19. General Electric has a 12 month low of $86.83 and a 12 month high of $194.80.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the previous year, the business posted $0.82 EPS. General Electric’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts expect that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

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

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.