Investors Asset Management of Georgia Inc. GA ADV lowered its position in shares of General Electric (NYSE:GE) by 86.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,387 shares of the conglomerate’s stock after selling 82,333 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in General Electric were worth $1,276,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. West Branch Capital LLC bought a new stake in General Electric during the second quarter worth approximately $33,000. Financial Insights Inc. acquired a new position in shares of General Electric in the 2nd quarter valued at about $38,000. Truvestments Capital LLC increased its holdings in shares of General Electric by 112.2% in the 2nd quarter. Truvestments Capital LLC now owns 2,837 shares of the conglomerate’s stock valued at $38,000 after purchasing an additional 1,500 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of General Electric in the 2nd quarter valued at about $42,000. Finally, Evolution Wealth Advisors LLC increased its holdings in shares of General Electric by 53.9% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 3,714 shares of the conglomerate’s stock valued at $50,000 after purchasing an additional 1,300 shares during the period.
In other General Electric news, Director Leslie Seidman acquired 1,000 shares of General Electric stock in a transaction dated Monday, November 22nd. The stock was bought at an average cost of $100.59 per share, with a total value of $100,590.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 2,051 shares of company stock valued at $210,673 over the last three months. 0.71% of the stock is owned by company insiders.
General Electric (NYSE:GE) last announced its quarterly earnings results on Monday, October 25th. The conglomerate reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. General Electric had a positive return on equity of 5.88% and a negative net margin of 0.05%. The company had revenue of $18.43 billion for the quarter, compared to the consensus estimate of $19.17 billion. During the same quarter last year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts expect that General Electric will post 2.01 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 25th. Stockholders of record on Monday, September 27th were given a $0.08 dividend. The ex-dividend date was Friday, September 24th. This represents a $0.32 annualized dividend and a dividend yield of 0.31%. General Electric’s dividend payout ratio is -61.54%.
GE has been the topic of a number of research reports. Morgan Stanley initiated coverage on General Electric in a report on Tuesday. They issued an “overweight” rating and a $125.00 target price on the stock. Wolfe Research upped their target price on General Electric from $132.00 to $136.00 and gave the company an “outperform” rating in a report on Wednesday, November 10th. Wells Fargo & Company increased their price objective on General Electric from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 10th. UBS Group increased their price objective on General Electric from $136.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, November 10th. Finally, Credit Suisse Group increased their price objective on General Electric from $112.00 to $114.00 and gave the stock a “neutral” rating in a report on Wednesday, October 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $122.18.
General Electric Profile
General Electric Co engages in the provision of technology and financial services. It operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and Capital. The Power segment offers technologies, solutions, and services related to energy production, which includes gas and steam turbines, generators, and power generation services.
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