Amalgamated Bank Purchases 4,825 Shares of General Electric (NYSE:GE)

Amalgamated Bank lifted its position in shares of General Electric (NYSE:GE) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 228,379 shares of the conglomerate’s stock after purchasing an additional 4,825 shares during the period. Amalgamated Bank’s holdings in General Electric were worth $43,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in GE. Studio Investment Management LLC increased its stake 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 period. Toth Financial Advisory Corp bought a new position in General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in General Electric during the 3rd quarter worth $27,000. MFA Wealth Advisors LLC bought a new position in General Electric during the 2nd quarter worth $31,000. Finally, Financial Connections Group Inc. bought a new position in General Electric during the 2nd quarter worth $32,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wells Fargo & Company raised 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. Melius Research raised their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Sanford C. Bernstein raised their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Barclays raised their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Up 0.0 %

Shares of GE opened at $171.76 on Tuesday. The company has a market capitalization of $185.89 billion, a PE ratio of 30.19, a PEG ratio of 1.70 and a beta of 1.19. General Electric has a 12 month low of $86.83 and a 12 month high of $194.80. The stock’s 50-day moving average price is $180.21 and its two-hundred day moving average price is $169.32. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 EPS. On average, analysts anticipate that General Electric will post 4.22 EPS for the current 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 issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is presently 19.68%.

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.