Angeles Wealth Management LLC Purchases 134 Shares of General Electric (NYSE:GE)

Angeles Wealth Management LLC grew its stake in shares of General Electric (NYSE:GE) by 4.5% during the third quarter, Holdings Channel reports. The institutional investor owned 3,093 shares of the conglomerate’s stock after buying an additional 134 shares during the period. Angeles Wealth Management LLC’s holdings in General Electric were worth $583,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Mackenzie Financial Corp boosted its position in shares of General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after acquiring an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC bought a new stake in shares of General Electric during the second quarter valued at approximately $1,569,000. GAMMA Investing LLC raised its holdings in shares of General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after acquiring an additional 3,442 shares in the last quarter. Senator Investment Group LP purchased a new stake in shares of General Electric in the 2nd quarter worth approximately $34,973,000. Finally, Blair William & Co. IL boosted its position in General Electric by 4.4% during the 2nd quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after acquiring an additional 7,670 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

GE traded down $0.08 during trading on Friday, reaching $171.70. The company’s stock had a trading volume of 3,984,932 shares, compared to its average volume of 4,578,521. 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 firm has a fifty day simple moving average of $180.20 and a two-hundred day simple moving average of $169.10. The company has a market cap of $185.83 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 1.70 and a beta of 1.19. General Electric has a 1 year low of $85.89 and a 1 year high of $194.80.

General Electric (NYSE:GE) last issued 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. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 earnings per share. As a group, analysts anticipate that General Electric will post 4.22 EPS for the current 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 issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s dividend payout ratio (DPR) is 19.68%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group raised their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup boosted their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada cut their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Barclays raised their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Melius Research lifted their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus price target 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.