Wealth Alliance Advisory Group LLC Has $1.61 Million Position in General Electric (NYSE:GE)

by · The Markets Daily

Wealth Alliance Advisory Group LLC lifted its stake in General Electric (NYSE:GE – Free Report) by 6.7% during the third quarter, HoldingsChannel reports. The fund owned 8,542 shares of the conglomerate’s stock after purchasing an additional 533 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in General Electric were worth $1,611,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Studio Investment Management LLC increased its holdings in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of General Electric during the 2nd quarter worth about $31,000. Financial Connections Group Inc. bought a new position in shares of General Electric in the 2nd quarter valued at approximately $32,000. Richardson Financial Services Inc. acquired a new stake in General Electric in the 1st quarter worth approximately $34,000. Finally, Macroview Investment Management LLC grew its holdings in General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of several recent analyst reports. Royal Bank of Canada upped their price objective 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. UBS Group raised their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Sanford C. Bernstein increased their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Jefferies Financial Group lifted their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.86.

Read Our Latest Report on General Electric

General Electric Stock Performance

NYSE GE opened at $192.61 on Friday. General Electric has a twelve month low of $84.42 and a twelve month high of $194.80. 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 stock has a market cap of $210.83 billion, a P/E ratio of 63.15, a PEG ratio of 1.86 and a beta of 1.18. The company’s 50-day simple moving average is $178.51 and its 200 day simple moving average is $167.42.

General Electric (NYSE:GE – Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 EPS. As a group, research analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

General Electric Company Profile

(Free Report)

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.

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