BOCHK Asset Management Ltd Purchases Shares of 3,750 General Electric (NYSE:GE)

by · The Cerbat Gem

BOCHK Asset Management Ltd acquired a new stake in General Electric (NYSE:GE – Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,750 shares of the conglomerate’s stock, valued at approximately $707,000.

Several other large investors have also bought and sold shares of GE. Wellington Management Group LLP increased its holdings in shares of General Electric by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 133,618 shares of the conglomerate’s stock valued at $17,054,000 after purchasing an additional 2,055 shares during the period. Brookstone Capital Management grew its stake in shares of General Electric by 14.4% in the first quarter. Brookstone Capital Management now owns 21,347 shares of the conglomerate’s stock worth $3,747,000 after acquiring an additional 2,682 shares during the last quarter. Sovereign Financial Group Inc. increased its holdings in shares of General Electric by 74.9% during the 1st quarter. Sovereign Financial Group Inc. now owns 2,934 shares of the conglomerate’s stock worth $515,000 after purchasing an additional 1,256 shares during the period. Wealthcare Advisory Partners LLC raised its position in shares of General Electric by 6.6% during the first quarter. Wealthcare Advisory Partners LLC now owns 9,377 shares of the conglomerate’s stock valued at $1,646,000 after buying an additional 579 shares during the last quarter. Finally, Investment Partners LTD. bought a new stake in shares of General Electric in the first quarter valued at about $257,000. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 0.7 %

Shares of General Electric stock traded down $1.35 during trading on Thursday, reaching $180.34. 1,690,315 shares of the company were exchanged, compared to its average volume of 6,365,646. The business has a 50-day moving average price of $179.51 and a 200-day moving average price of $168.15. The firm has a market capitalization of $197.40 billion, a price-to-earnings ratio of 59.51, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a twelve month low of $84.58 and a twelve month high of $194.80.

General Electric (NYSE:GE – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the company posted $0.82 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is 36.72%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Jefferies Financial Group upped their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft upped their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Citigroup increased their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Bank of America upped their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

View Our Latest Stock Report on GE

General Electric Company Profile

(Free Report)

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.

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