1,766 Shares in General Electric (NYSE:GE) Purchased by Coastal Investment Advisors Inc.

Coastal Investment Advisors Inc. acquired a new stake in General Electric (NYSE:GE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,766 shares of the conglomerate’s stock, valued at approximately $194,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Steward Financial Group LLC bought a new position in General Electric in the 2nd quarter valued at about $26,000. Motco lifted its holdings in General Electric by 143.0% during the 2nd quarter. Motco now owns 294 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 173 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new stake in General Electric in the 2nd quarter valued at $33,000. Global Wealth Management Investment Advisory Inc. grew its holdings in General Electric by 808.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after buying an additional 299 shares in the last quarter. Finally, Syverson Strege & Co increased its position in General Electric by 53.6% during the 1st quarter. Syverson Strege & Co now owns 338 shares of the conglomerate’s stock worth $32,000 after buying an additional 118 shares during the period. 74.83% of the stock is currently owned by institutional investors.

General Electric Price Performance

Shares of NYSE:GE opened at $117.25 on Wednesday. General Electric has a one year low of $59.57 and a one year high of $117.96. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.17 and a quick ratio of 0.82. The company has a market cap of $127.61 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 3.26 and a beta of 1.26. The firm has a 50 day simple moving average of $111.32 and a 200 day simple moving average of $109.22.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. General Electric had a return on equity of 11.10% and a net margin of 14.38%. The company had revenue of $17.35 billion during the quarter, compared to analysts’ expectations of $15.46 billion. During the same period in the prior year, the company earned $0.35 EPS. General Electric’s revenue was up 19.9% compared to the same quarter last year. Research analysts predict that General Electric will post 2.65 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Tuesday, September 26th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Monday, September 25th. General Electric’s payout ratio is 3.61%.

Wall Street Analysts Forecast Growth

GE has been the topic of several research reports. Citigroup upped their price target on shares of General Electric from $126.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Oppenheimer lowered shares of General Electric from an “outperform” rating to a “market perform” rating in a research report on Monday, July 31st. Barclays lifted their price target on shares of General Electric from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, October 25th. Morgan Stanley raised their price objective on General Electric from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 10th. Finally, The Goldman Sachs Group upped their target price on General Electric from $121.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $122.93.

General Electric Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.