Fairfield Financial Advisors LTD Acquires New Holdings in General Electric (NYSE:GE)

Fairfield Financial Advisors LTD acquired a new stake in shares of General Electric (NYSE:GE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 525 shares of the conglomerate’s stock, valued at approximately $99,000.

Several other institutional investors also recently bought and sold shares of the company. Mackenzie Financial Corp increased its stake in shares of General Electric by 10.5% during the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after purchasing an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC acquired a new position in shares of General Electric in the 2nd quarter worth approximately $1,569,000. GAMMA Investing LLC increased its stake in General Electric by 25.4% during the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after buying an additional 3,442 shares during the period. Senator Investment Group LP purchased a new stake in General Electric during the 2nd quarter worth approximately $34,973,000. Finally, Blair William & Co. IL increased its stake in General Electric by 4.4% during the 2nd quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock worth $28,928,000 after buying an additional 7,670 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Performance

Shares of GE stock traded down $3.49 during mid-day trading on Thursday, hitting $171.15. The stock had a trading volume of 1,865,695 shares, compared to its average volume of 6,324,363. General Electric has a fifty-two week low of $84.66 and a fifty-two week high of $194.80. The firm has a market cap of $185.23 billion, a PE ratio of 29.98, a PEG ratio of 1.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company’s 50-day simple moving average is $180.14 and its 200-day simple moving average is $168.87.

General Electric (NYSE:GE) last announced its quarterly earnings data 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 net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter last year, the business earned $0.82 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Sell-side analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

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

Wall Street Analyst Weigh In

GE has been the topic of a number of recent analyst reports. Sanford C. Bernstein increased their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada dropped their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. UBS Group increased their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Citigroup increased their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

About General Electric

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.