Fairfield Financial Advisors LTD Buys Shares of 525 General Electric (NYSE:GE)

Fairfield Financial Advisors LTD bought a new stake in shares of General Electric (NYSE:GE) in the 3rd quarter, Holdings Channel.com reports. The fund bought 525 shares of the conglomerate’s stock, valued at approximately $99,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tsfg LLC increased its holdings in General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after acquiring an additional 55 shares in the last quarter. Macroview Investment Management LLC grew its holdings in shares of General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after buying an additional 58 shares in the last quarter. Strategic Advisors LLC grew its holdings in shares of General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after buying an additional 58 shares in the last quarter. Allegheny Financial Group LTD grew its holdings in shares of General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after buying an additional 61 shares in the last quarter. Finally, New England Research & Management Inc. grew its holdings in shares of General Electric by 2.2% during the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after buying an additional 63 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Down 2.0 %

GE stock traded down $3.49 during midday trading on Thursday, reaching $171.15. 1,865,695 shares of the company’s stock traded hands, compared to its average volume of 6,324,363. The company has a market capitalization of $185.23 billion, a P/E ratio of 29.98, a PEG ratio of 1.74 and a beta of 1.18. 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 has a fifty-two week low of $84.66 and a fifty-two week high of $194.80. The business has a 50-day moving average price of $180.14 and a two-hundred day moving average price of $168.87.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the previous year, the company posted $0.82 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a $0.28 dividend. 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 dividend payout ratio (DPR) is presently 19.68%.

Analysts Set New Price Targets

GE has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Bank of America lifted their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays raised their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Sanford C. Bernstein raised their target price 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. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $200.93.

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.