Prospera Private Wealth LLC Makes New Investment in General Electric (NYSE:GE)

Prospera Private Wealth LLC bought a new position in General Electric (NYSE:GE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,851 shares of the conglomerate’s stock, valued at approximately $1,480,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Toth Financial Advisory Corp bought a new position in General Electric in the 3rd quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in General Electric in the third quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric during the 3rd quarter valued at approximately $27,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric during the 3rd quarter worth approximately $28,000. Finally, Studio Investment Management LLC raised its position in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Price Performance

NYSE GE opened at $177.56 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a 1-year low of $94.54 and a 1-year high of $194.80. The stock has a market capitalization of $192.17 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 1.75 and a beta of 1.19. The business’s fifty day moving average price is $182.75 and its 200-day moving average price is $170.91.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the firm posted $0.82 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts predict that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The business 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 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio is currently 19.68%.

Analysts Set New Price Targets

Several research firms recently weighed in on GE. Citigroup lifted their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company upped their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. 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 report on Wednesday, October 23rd. UBS Group boosted their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein raised their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is owned by company insiders.

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.