Forum Financial Management LP Buys 543 Shares of General Electric (NYSE:GE)

Forum Financial Management LP lifted its position in General Electric (NYSE:GE) by 4.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,955 shares of the conglomerate’s stock after acquiring an additional 543 shares during the quarter. Forum Financial Management LP’s holdings in General Electric were worth $2,443,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GE. Robeco Institutional Asset Management B.V. raised its position in shares of General Electric by 70.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 887,943 shares of the conglomerate’s stock valued at $167,448,000 after buying an additional 367,077 shares in the last quarter. Lansing Street Advisors raised its position in General Electric by 23.0% during the third quarter. Lansing Street Advisors now owns 1,956 shares of the conglomerate’s stock valued at $369,000 after purchasing an additional 366 shares during the period. Angeles Wealth Management LLC raised its position in General Electric by 4.5% during the third quarter. Angeles Wealth Management LLC now owns 3,093 shares of the conglomerate’s stock valued at $583,000 after purchasing an additional 134 shares during the period. Van ECK Associates Corp lifted its stake in shares of General Electric by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 184,956 shares of the conglomerate’s stock valued at $33,605,000 after purchasing an additional 18,340 shares during the last quarter. Finally, Prosperitas Financial LLC bought a new position in shares of General Electric during the 3rd quarter valued at approximately $223,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on GE shares. Sanford C. Bernstein upped their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Bank of America upped their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. UBS Group upped 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, October 23rd. Finally, 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, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

NYSE GE opened at $171.70 on Monday. The company has a market cap of $185.83 billion, a PE ratio of 30.18, a P/E/G ratio of 1.70 and a beta of 1.19. The firm’s 50 day moving average price is $180.20 and its 200-day moving average price is $169.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a 52-week low of $85.89 and a 52-week high of $194.80.

General Electric (NYSE:GE) last announced its 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 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 business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 EPS. Sell-side analysts forecast that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

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