General Electric (NYSE:GE) Shares Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC grew its position in shares of General Electric (NYSE:GE) by 22.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,682 shares of the conglomerate’s stock after purchasing an additional 1,425 shares during the quarter. Pallas Capital Advisors LLC’s holdings in General Electric were worth $1,381,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of GE. Studio Investment Management LLC lifted its holdings 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 valued at $25,000 after purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in General Electric during the third quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric in the third quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new position in shares of General Electric in the second quarter worth approximately $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of General Electric during the second quarter valued at approximately $32,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of several research analyst reports. Wells Fargo & Company lifted their price objective on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. 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 report on Wednesday, October 23rd. Barclays upped their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. UBS Group raised their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Melius Research upped their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Performance

Shares of NYSE GE opened at $174.13 on Wednesday. The business’s 50-day simple moving average is $180.07 and its 200-day simple moving average is $168.82. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a 52 week low of $84.66 and a 52 week high of $194.80. The firm has a market cap of $188.46 billion, a price-to-earnings ratio of 30.60, a P/E/G ratio of 1.74 and a beta of 1.18.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $9.02 billion. During the same quarter last year, the company posted $0.82 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts expect 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 was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is 19.68%.

General Electric 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.