Safeguard Financial LLC Purchases New Holdings in General Electric (NYSE:GE)

by · The Markets Daily

Safeguard Financial LLC purchased a new position in shares of General Electric (NYSE:GE – Free Report) during the third quarter, Holdings Channel reports. The institutional investor purchased 1,205 shares of the conglomerate’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also bought and sold shares of GE. Virtu Financial LLC raised its position in General Electric by 38.0% in the fourth quarter. Virtu Financial LLC now owns 3,865 shares of the conglomerate’s stock worth $493,000 after acquiring an additional 1,064 shares during the period. Scarborough Advisors LLC purchased a new position in General Electric in the fourth quarter valued at approximately $52,000. Wellington Management Group LLP grew its holdings in General Electric by 1.6% during the fourth 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. SageView Advisory Group LLC raised its stake in shares of General Electric by 38.5% in the fourth quarter. SageView Advisory Group LLC now owns 7,730 shares of the conglomerate’s stock valued at $1,035,000 after buying an additional 2,147 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of General Electric during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

GE stock opened at $191.00 on Wednesday. The firm has a market cap of $209.07 billion, a price-to-earnings ratio of 62.48, a PEG ratio of 1.86 and a beta of 1.18. General Electric has a twelve month low of $84.42 and a twelve month high of $194.33. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The business’s fifty day simple moving average is $176.86 and its two-hundred day simple moving average is $166.73.

General Electric (NYSE:GE – Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. Analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.59%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Wall Street Analyst Weigh In

GE has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Barclays raised 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 upped their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company increased their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average price target of $196.86.

Read Our Latest Research Report on General Electric

General Electric 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.

See Also

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