Watts Gwilliam & Co. LLC Makes New $205,000 Investment in General Electric (NYSE:GE)

by · The Cerbat Gem

Watts Gwilliam & Co. LLC bought a new position in shares of General Electric (NYSE:GE – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,093 shares of the conglomerate’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Newport Trust Company LLC acquired a new stake in shares of General Electric in the second quarter valued at $2,613,332,000. Capital World Investors grew its stake in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Capital International Investors grew its stake in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of General Electric in the second quarter valued at $580,200,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GE shares. Sanford C. Bernstein started coverage on General Electric in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Citigroup lifted their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $195.14.

Read Our Latest Report on GE

General Electric Stock Up 1.6 %

General Electric stock opened at $191.20 on Friday. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $191.76. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The company has a market capitalization of $207.32 billion, a P/E ratio of 45.31, a PEG ratio of 1.86 and a beta of 1.18. The stock has a 50-day simple moving average of $175.61 and a 200-day simple moving average of $166.65.

General Electric (NYSE:GE – Get Free Report) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the previous year, the business earned $0.68 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s payout ratio is currently 26.54%.

About General Electric

(Free Report)

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.

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