Forte Capital LLC ADV Increases Stock Holdings in General Electric (NYSE:GE)

Forte Capital LLC ADV raised its position in General Electric (NYSE:GE) by 18.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,076 shares of the conglomerate’s stock after acquiring an additional 802 shares during the quarter. Forte Capital LLC ADV’s holdings in General Electric were worth $957,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Studio Investment Management LLC lifted its position in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp acquired a new position in shares of General Electric in the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the 3rd quarter valued at approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric during the 2nd quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. bought a new position in General Electric during the second quarter worth $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 3.2 %

GE opened at $180.80 on Thursday. The firm’s fifty day simple moving average is $180.47 and its 200 day simple moving average is $169.59. The stock has a market capitalization of $195.68 billion, a P/E ratio of 31.78, a P/E/G ratio of 1.70 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12 month low of $88.68 and a 12 month high of $194.80.

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, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 EPS. As a group, research analysts anticipate that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.62%. General Electric’s payout ratio is currently 19.68%.

Analysts Set New Price Targets

GE has been the topic of a number of recent research reports. Melius Research raised their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reduced their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Barclays increased their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, General Electric 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.