Heritage Wealth Management Inc. Makes New $725,000 Investment in General Electric (NYSE:GE)

Heritage Wealth Management Inc. bought a new stake in General Electric (NYSE:GE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,517 shares of the conglomerate’s stock, valued at approximately $725,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aveo Capital Partners LLC acquired a new stake in General Electric during the 4th quarter valued at $203,000. Eagle Asset Management Inc. raised its stake in General Electric by 24.9% in the fourth quarter. Eagle Asset Management Inc. now owns 53,783 shares of the conglomerate’s stock valued at $6,864,000 after purchasing an additional 10,705 shares in the last quarter. Jones Financial Companies Lllp raised its stake in General Electric by 6.5% in the fourth quarter. Jones Financial Companies Lllp now owns 3,439 shares of the conglomerate’s stock valued at $439,000 after purchasing an additional 210 shares in the last quarter. CWA Asset Management Group LLC bought a new position in General Electric in the fourth quarter valued at about $239,000. Finally, Rafferty Asset Management LLC grew its position in General Electric by 5.5% in the fourth quarter. Rafferty Asset Management LLC now owns 91,297 shares of the conglomerate’s stock valued at $11,652,000 after acquiring an additional 4,735 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Barclays boosted their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Sanford C. Bernstein started coverage on General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target on the stock. Finally, Royal Bank of Canada upped their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.36.

General Electric Stock Down 1.2 %

General Electric stock opened at $186.30 on Wednesday. The company has a market capitalization of $203.93 billion, a PE ratio of 61.08, a PEG ratio of 1.87 and a beta of 1.18. General Electric has a 12-month low of $84.42 and a 12-month high of $190.88. The firm’s fifty day moving average is $172.31 and its 200 day moving average is $169.45. 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 (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. As a group, sell-side analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 36.72%.

General Electric 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.