Harvest Portfolios Group Inc. Has $1.10 Million Stake in General Electric (NYSE:GE)

Harvest Portfolios Group Inc. increased its holdings in shares of General Electric (NYSE:GE) by 7.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,829 shares of the conglomerate’s stock after purchasing an additional 400 shares during the period. Harvest Portfolios Group Inc.’s holdings in General Electric were worth $1,099,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Radnor Capital Management LLC bought a new stake in shares of General Electric in the third quarter worth $5,257,000. Catalina Capital Group LLC grew its stake in shares of General Electric by 7.5% in the third quarter. Catalina Capital Group LLC now owns 3,468 shares of the conglomerate’s stock valued at $654,000 after buying an additional 243 shares in the last quarter. Beacon Financial Advisory LLC bought a new position in General Electric during the third quarter worth about $219,000. Avidian Wealth Enterprises LLC lifted its position in shares of General Electric by 7.3% in the third quarter. Avidian Wealth Enterprises LLC now owns 2,341 shares of the conglomerate’s stock valued at $441,000 after buying an additional 160 shares during the last quarter. Finally, Marks Group Wealth Management Inc increased its holdings in shares of General Electric by 221.5% in the third quarter. Marks Group Wealth Management Inc now owns 11,933 shares of the conglomerate’s stock valued at $2,250,000 after purchasing an additional 8,221 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GE shares. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada reduced 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 note on Wednesday, October 23rd. Bank of America raised their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein raised their price objective 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, Melius Research upped their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Performance

General Electric stock opened at $180.80 on Thursday. General Electric has a twelve month low of $88.68 and a twelve month high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock’s 50 day moving average is $180.47 and its 200 day moving average is $169.59. The company has a market capitalization of $195.68 billion, a P/E ratio of 31.78, a PEG ratio of 1.70 and a beta of 1.19.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. On average, equities research analysts predict that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently declared 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 0.62%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is presently 19.68%.

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.