Childress Capital Advisors LLC Has $615,000 Holdings in General Electric (NYSE:GE)

Childress Capital Advisors LLC boosted its holdings in shares of General Electric (NYSE:GE) by 4.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,261 shares of the conglomerate’s stock after buying an additional 150 shares during the quarter. Childress Capital Advisors LLC’s holdings in General Electric were worth $615,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Studio Investment Management LLC raised its stake 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 valued at $25,000 after acquiring an additional 78 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in General Electric during the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric in the third quarter valued at approximately $27,000. MFA Wealth Advisors LLC bought a new position in shares of General Electric in the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of General Electric in the second quarter worth $32,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of research analyst reports. Bank of America lifted their target price 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. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada decreased their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Citigroup increased their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Performance

NYSE GE opened at $174.13 on Wednesday. General Electric has a twelve month low of $84.66 and a twelve month high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock has a market cap of $188.46 billion, a P/E ratio of 30.60, a PEG ratio of 1.74 and a beta of 1.18. The company’s 50-day simple moving average is $180.07 and its 200 day simple moving average is $168.82.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during 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%. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 EPS. As a group, research analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

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.