Horst & Graben Wealth Management LLC Makes New $226,000 Investment in General Electric (NYSE:GE)

Horst & Graben Wealth Management LLC bought a new stake in General Electric (NYSE:GE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,196 shares of the conglomerate’s stock, valued at approximately $226,000.

Several other institutional investors have also recently made changes to their positions in GE. Studio Investment Management LLC raised 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 worth $25,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp purchased a new stake in shares of General Electric in the third quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric in the second quarter worth approximately $31,000. Financial Connections Group Inc. bought a new stake in shares of General Electric during the 2nd quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. purchased a new position in General Electric during the 1st quarter valued at $34,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GE shares. Jefferies Financial Group increased their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Citigroup raised their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays boosted their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. UBS Group upped their target price on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.86.

General Electric Stock Performance

GE stock opened at $194.35 on Tuesday. General Electric has a one year low of $84.58 and a one year high of $194.80. The firm has a market cap of $212.74 billion, a price-to-earnings ratio of 63.72, a PEG ratio of 1.86 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The firm has a 50-day simple moving average of $179.06 and a two-hundred day simple moving average of $167.91.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating 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 company 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 company posted $0.68 earnings per share. General Electric’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities analysts forecast 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 $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. General Electric’s payout ratio is 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.