Checchi Capital Advisers LLC Acquires 252 Shares of General Electric (NYSE:GE)

Checchi Capital Advisers LLC grew its holdings in shares of General Electric (NYSE:GE) by 3.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,700 shares of the conglomerate’s stock after acquiring an additional 252 shares during the period. Checchi Capital Advisers LLC’s holdings in General Electric were worth $736,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Cetera Advisors LLC grew its stake in General Electric by 6.6% during the second quarter. Cetera Advisors LLC now owns 37,031 shares of the conglomerate’s stock worth $4,068,000 after purchasing an additional 2,308 shares during the period. Cetera Advisor Networks LLC increased its stake in shares of General Electric by 16.6% in the 2nd quarter. Cetera Advisor Networks LLC now owns 87,099 shares of the conglomerate’s stock valued at $9,568,000 after acquiring an additional 12,368 shares in the last quarter. Egerton Capital UK LLP acquired a new position in shares of General Electric during the 2nd quarter valued at $418,951,000. Strategic Financial Services Inc boosted its stake in General Electric by 7.9% during the second quarter. Strategic Financial Services Inc now owns 4,059 shares of the conglomerate’s stock worth $455,000 after acquiring an additional 297 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in General Electric by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,838,834 shares of the conglomerate’s stock valued at $421,632,000 after purchasing an additional 62,286 shares in the last quarter. Institutional investors own 74.83% of the company’s stock.

General Electric Price Performance

GE opened at $118.94 on Friday. General Electric has a fifty-two week low of $59.57 and a fifty-two week high of $118.96. The firm has a 50-day moving average of $111.54 and a 200 day moving average of $109.33. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.82 and a current ratio of 1.17. The firm has a market cap of $129.45 billion, a P/E ratio of 13.41, a PEG ratio of 3.28 and a beta of 1.26.

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

General Electric Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on General Electric from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 25th. Citigroup boosted their target price on shares of General Electric from $126.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Morgan Stanley raised their price target on shares of General Electric from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Oppenheimer lowered General Electric from an “outperform” rating to a “market perform” rating in a report on Monday, July 31st. Finally, Argus upped their price target on General Electric from $112.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.93.

About General Electric

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.