O Brien Wealth Partners LLC Takes Position in General Electric (NYSE:GE)

O Brien Wealth Partners LLC bought a new stake in General Electric (NYSE:GE) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 145 shares of the conglomerate’s stock, valued at approximately $27,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Studio Investment Management LLC boosted its stake in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp bought a new position in General Electric during the 3rd quarter valued at $25,000. MFA Wealth Advisors LLC bought a new position in General Electric during the 2nd quarter valued at $31,000. Financial Connections Group Inc. bought a new position in General Electric during the 2nd quarter valued at $32,000. Finally, Richardson Financial Services Inc. bought a new position in General Electric during the 1st quarter valued at $34,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on GE. Sanford C. Bernstein increased their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company increased their price objective on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group increased their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Citigroup increased 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. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Down 0.3 %

GE stock opened at $179.16 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a fifty-two week low of $84.58 and a fifty-two week high of $194.80. The firm’s 50-day simple moving average is $179.71 and its 200 day simple moving average is $168.23. The stock has a market cap of $196.11 billion, a PE ratio of 58.74, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter last year, the company earned $0.82 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given 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 dividend yield of 0.63%. General Electric’s dividend payout ratio (DPR) is 36.72%.

About General Electric

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.