WFA of San Diego LLC Acquires Shares of 1,550 General Electric (NYSE:GE)

WFA of San Diego LLC bought a new position in General Electric (NYSE:GE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,550 shares of the conglomerate’s stock, valued at approximately $170,000.

A number of other institutional investors also recently modified their holdings of the stock. Steward Financial Group LLC purchased a new position in General Electric in the second quarter valued at about $26,000. Motco increased its holdings in General Electric by 143.0% in the second quarter. Motco now owns 294 shares of the conglomerate’s stock worth $32,000 after buying an additional 173 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new position in General Electric during the second quarter valued at approximately $33,000. Global Wealth Management Investment Advisory Inc. grew its position in General Electric by 808.1% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 299 shares in the last quarter. Finally, Syverson Strege & Co raised its holdings in shares of General Electric by 53.6% during the 1st quarter. Syverson Strege & Co now owns 338 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 118 shares in the last quarter. Institutional investors and hedge funds own 74.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Argus upped their price objective on shares of General Electric from $112.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. TheStreet downgraded General Electric from a “b-” rating to a “c” rating in a research note on Tuesday, October 24th. Barclays boosted their target price on General Electric from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, October 25th. StockNews.com initiated coverage on General Electric in a report on Thursday, October 5th. They set a “buy” rating on the stock. Finally, Oppenheimer cut shares of General Electric from an “outperform” rating to a “market perform” rating in a research note on Monday, July 31st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.93.

General Electric Stock Performance

Shares of GE stock traded down $0.08 during mid-day trading on Monday, reaching $119.85. The stock had a trading volume of 552,365 shares, compared to its average volume of 5,884,634. The firm has a market cap of $130.44 billion, a PE ratio of 13.52, a P/E/G ratio of 3.28 and a beta of 1.26. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.65. General Electric has a one year low of $59.57 and a one year high of $120.45. The firm’s 50 day simple moving average is $111.70 and its 200 day simple moving average is $109.57.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $0.82 earnings per share for the quarter, topping 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 the consensus estimate of $15.46 billion. During the same quarter in the previous year, the company earned $0.35 earnings per share. The business’s revenue was up 19.9% compared to the same quarter last year. On average, analysts forecast that General Electric will post 2.65 EPS for the current year.

General Electric Announces Dividend

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

General Electric Company 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.