Resonant Capital Advisors LLC Grows Position in General Electric (NYSE:GE)

Resonant Capital Advisors LLC grew its holdings in General Electric (NYSE:GE) by 11.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,912 shares of the conglomerate’s stock after purchasing an additional 399 shares during the quarter. Resonant Capital Advisors LLC’s holdings in General Electric were worth $739,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Studio Investment Management LLC boosted its position in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric during the 2nd quarter worth $31,000. Richardson Financial Services Inc. bought a new stake in General Electric during the first quarter valued at about $34,000. Financial Connections Group Inc. purchased a new position in General Electric in the second quarter valued at about $32,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in General Electric in the first quarter worth about $37,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup raised their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada lifted their price target on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company boosted their target price on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group increased their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.86.

General Electric Trading Down 0.0 %

General Electric stock opened at $192.61 on Monday. 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 stock’s 50 day simple moving average is $178.51 and its two-hundred day simple moving average is $167.58. General Electric has a 12 month low of $84.42 and a 12 month high of $194.80. The firm has a market cap of $210.83 billion, a PE ratio of 63.15, a P/E/G ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. Analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is presently 36.72%.

About General Electric

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.