Acorn Financial Advisory Services Inc. ADV Decreases Position in General Electric (NYSE:GE)

Acorn Financial Advisory Services Inc. ADV lowered its stake in General Electric (NYSE:GE) by 8.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,861 shares of the conglomerate’s stock after selling 508 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in General Electric were worth $1,105,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Toth Financial Advisory Corp purchased a new stake in shares of General Electric in the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric in the 3rd quarter worth approximately $27,000. Studio Investment Management LLC boosted its position in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in General Electric in the second quarter worth $31,000. Finally, Financial Connections Group Inc. purchased a new position in General Electric during the second quarter valued at $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Activity

In related news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

GE has been the subject of several research reports. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Sanford C. Bernstein increased their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Citigroup raised their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Performance

NYSE GE traded up $5.96 during trading hours on Friday, hitting $184.81. 4,676,543 shares of the company’s stock traded hands, compared to its average volume of 4,843,334. General Electric has a 52 week low of $90.34 and a 52 week high of $194.80. The firm has a market capitalization of $200.02 billion, a P/E ratio of 32.50, a P/E/G ratio of 1.78 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The business’s fifty day moving average price is $180.78 and its two-hundred day moving average price is $169.90.

General Electric (NYSE:GE) last announced 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 return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the firm earned $0.82 EPS. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts predict that General Electric will post 4.22 EPS for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. General Electric’s dividend payout ratio (DPR) 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.