Cordatus Wealth Management LLC Has $1.88 Million Stake in General Electric (NYSE:GE)

Cordatus Wealth Management LLC grew its stake in General Electric (NYSE:GE) by 1.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,947 shares of the conglomerate’s stock after buying an additional 149 shares during the period. Cordatus Wealth Management LLC’s holdings in General Electric were worth $1,876,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GE. Studio Investment Management LLC lifted 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 worth $25,000 after acquiring an additional 78 shares during the last quarter. Toth Financial Advisory Corp acquired a new position in shares of General Electric during the 3rd 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. MFA Wealth Advisors LLC acquired a new stake in General Electric in the 2nd quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. bought a new position in General Electric in the 2nd quarter worth approximately $32,000. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of GE traded down $3.54 on Thursday, hitting $171.10. The company’s stock had a trading volume of 1,695,182 shares, compared to its average volume of 6,323,555. The company has a market capitalization of $185.18 billion, a PE ratio of 29.98, a PEG ratio of 1.74 and a beta of 1.18. General Electric has a fifty-two week low of $84.66 and a fifty-two week high of $194.80. The company has a 50 day moving average price of $180.14 and a 200 day moving average price of $168.87. 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 (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. On average, research analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is presently 19.68%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GE shares. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Barclays increased their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lowered their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Citigroup raised their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average price target 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.