61,860 Shares in General Electric (NYSE:GE) Bought by Milestones Administradora de Recursos Ltda.

Milestones Administradora de Recursos Ltda. acquired a new stake in General Electric (NYSE:GE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 61,860 shares of the conglomerate’s stock, valued at approximately $11,666,000. General Electric comprises about 4.6% of Milestones Administradora de Recursos Ltda.’s investment portfolio, making the stock its 5th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tsfg LLC raised its position in shares of General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after buying an additional 55 shares in the last quarter. Macroview Investment Management LLC boosted its stake in General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. Strategic Advisors LLC increased its position in shares of General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after purchasing an additional 58 shares during the period. Allegheny Financial Group LTD lifted its holdings in shares of General Electric by 1.4% in the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after buying an additional 61 shares during the period. Finally, New England Research & Management Inc. boosted its stake in General Electric by 2.2% during the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after buying an additional 63 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Up 0.7 %

Shares of NYSE:GE traded up $1.29 during midday trading on Wednesday, hitting $175.34. 815,936 shares of the stock were exchanged, compared to its average volume of 6,331,890. The company has a market capitalization of $189.77 billion, a PE ratio of 30.75, a P/E/G ratio of 1.74 and a beta of 1.18. General Electric has a 52-week low of $84.66 and a 52-week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The business’s fifty day simple moving average is $180.07 and its two-hundred day simple moving average is $168.82.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $0.82 EPS. As a group, research analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.64%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is 19.68%.

Wall Street Analyst Weigh In

GE has been the subject of a number of research analyst reports. Citigroup upped 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. Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. UBS Group increased their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein lifted their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company upped their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average 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.