Secure Asset Management LLC Grows Holdings in General Electric (NYSE:GE)

Secure Asset Management LLC increased its position in shares of General Electric (NYSE:GE) by 32.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,996 shares of the conglomerate’s stock after purchasing an additional 1,236 shares during the quarter. Secure Asset Management LLC’s holdings in General Electric were worth $942,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in General Electric by 1.6% in the fourth quarter. Wellington Management Group LLP now owns 133,618 shares of the conglomerate’s stock worth $17,054,000 after acquiring an additional 2,055 shares during the period. Kapitalo Investimentos Ltda bought a new stake in General Electric during the 4th quarter worth approximately $32,000. Fulton Bank N.A. bought a new stake in General Electric during the 1st quarter worth approximately $258,000. RFG Advisory LLC increased its holdings in General Electric by 35.9% during the 1st quarter. RFG Advisory LLC now owns 2,848 shares of the conglomerate’s stock worth $500,000 after acquiring an additional 753 shares during the period. Finally, MJP Associates Inc. ADV grew its stake in General Electric by 57.1% in the 1st quarter. MJP Associates Inc. ADV now owns 2,665 shares of the conglomerate’s stock worth $468,000 after buying an additional 969 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Down 0.1 %

Shares of GE opened at $192.51 on Friday. The stock has a market capitalization of $210.72 billion, a P/E ratio of 63.12, a PEG ratio of 1.86 and a beta of 1.18. 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 firm has a fifty day simple moving average of $178.51 and a two-hundred day simple moving average of $167.21. General Electric has a twelve month low of $84.42 and a twelve month high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 EPS. On average, research analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.58%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Wall Street Analyst Weigh In

A number of research firms have commented on GE. Jefferies Financial Group boosted their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Company boosted their price target on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. UBS Group boosted their price target 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, Citigroup upped their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus price target 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.