Smith & Howard Wealth Management LLC Invests $208,000 in General Electric (NYSE:GE)

Smith & Howard Wealth Management LLC bought a new stake in shares of General Electric (NYSE:GE) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,105 shares of the conglomerate’s stock, valued at approximately $208,000.

Several other hedge funds have also modified their holdings of the stock. Brookstone Capital Management lifted its stake in General Electric by 14.4% during the first quarter. Brookstone Capital Management now owns 21,347 shares of the conglomerate’s stock worth $3,747,000 after purchasing an additional 2,682 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its position in shares of General Electric by 6.6% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 9,377 shares of the conglomerate’s stock worth $1,646,000 after buying an additional 579 shares during the last quarter. Capital Asset Advisory Services LLC lifted its position in shares of General Electric by 8.3% in the 1st quarter. Capital Asset Advisory Services LLC now owns 2,291 shares of the conglomerate’s stock worth $402,000 after buying an additional 175 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of General Electric in the 1st quarter valued at about $255,000. Finally, Kathmere Capital Management LLC grew its position in shares of General Electric by 5.0% during the 1st quarter. Kathmere Capital Management LLC now owns 3,498 shares of the conglomerate’s stock valued at $614,000 after buying an additional 167 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Down 0.3 %

Shares of NYSE:GE opened at $179.16 on Friday. The company has a 50 day moving average of $179.90 and a 200-day moving average of $168.38. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market cap of $196.11 billion, a P/E ratio of 58.74, a P/E/G ratio of 1.86 and a beta of 1.18. General Electric has a twelve month low of $84.58 and a twelve month high of $194.80.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the firm posted $0.82 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is currently 36.72%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Jefferies Financial Group raised their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Barclays boosted their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada lowered their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday. Bank of America raised their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Citigroup upped their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Company 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.