Amalgamated Bank Acquires 4,825 Shares of General Electric (NYSE:GE)

Amalgamated Bank lifted its holdings in General Electric (NYSE:GE) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 228,379 shares of the conglomerate’s stock after acquiring an additional 4,825 shares during the period. Amalgamated Bank’s holdings in General Electric were worth $43,068,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GE. Studio Investment Management LLC raised its position in shares of 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 acquiring an additional 78 shares in the last quarter. Toth Financial Advisory Corp bought a new position in shares of General Electric in the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric in the 3rd quarter worth about $27,000. MFA Wealth Advisors LLC bought a new position in shares of General Electric in the 2nd quarter worth about $31,000. Finally, Financial Connections Group Inc. bought a new position in shares of General Electric in the 2nd quarter worth about $32,000. 74.77% of the stock is owned by institutional investors.

General Electric Price Performance

Shares of NYSE GE opened at $171.76 on Tuesday. General Electric has a twelve month low of $86.83 and a twelve month high of $194.80. The stock’s 50 day moving average price is $180.21 and its 200-day moving average price is $169.32. The company has a market capitalization of $185.89 billion, a PE ratio of 30.19, a PEG ratio of 1.70 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS 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 the consensus estimate of $9.02 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. General Electric’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts anticipate that General Electric will post 4.22 EPS for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. 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 payout ratio is 19.68%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Bank of America lifted their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays boosted their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Citigroup boosted their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company boosted their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.93.

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.