Leo Wealth LLC Increases Stock Position in General Electric (NYSE:GE)

Leo Wealth LLC boosted its holdings in General Electric (NYSE:GE) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,362 shares of the conglomerate’s stock after purchasing an additional 288 shares during the quarter. Leo Wealth LLC’s holdings in General Electric were worth $823,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP increased its position in General Electric by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 133,618 shares of the conglomerate’s stock valued at $17,054,000 after acquiring an additional 2,055 shares during the period. RFG Advisory LLC raised its stake in shares of General Electric by 35.9% during the first quarter. RFG Advisory LLC now owns 2,848 shares of the conglomerate’s stock worth $500,000 after purchasing an additional 753 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of General Electric by 14.0% during the first quarter. Dynamic Advisor Solutions LLC now owns 18,944 shares of the conglomerate’s stock worth $3,325,000 after purchasing an additional 2,323 shares during the period. Mcdonald Partners LLC purchased a new position in General Electric in the 1st quarter valued at $438,000. Finally, CFM Wealth Partners LLC acquired a new position in General Electric in the 1st quarter valued at $205,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Down 9.1 %

Shares of General Electric stock opened at $176.59 on Wednesday. General Electric has a fifty-two week low of $84.58 and a fifty-two week high of $194.80. The business’s fifty day moving average is $179.24 and its two-hundred day moving average is $168.05. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The firm has a market cap of $193.30 billion, a PE ratio of 57.90, a P/E/G ratio of 1.86 and a beta of 1.18.

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

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. General Electric’s dividend payout ratio is presently 36.72%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citigroup raised their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. UBS Group lifted their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft boosted their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Jefferies Financial Group upped their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $198.53.

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.