General Electric (NYSE:GE) Stake Cut by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC decreased its holdings in shares of General Electric (NYSE:GE) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,538 shares of the conglomerate’s stock after selling 959 shares during the period. Verdence Capital Advisors LLC’s holdings in General Electric were worth $4,062,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Studio Investment Management LLC lifted its holdings in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp bought a new position in General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric in the third quarter valued at $27,000. MFA Wealth Advisors LLC acquired a new position in shares of General Electric during the second quarter valued at $31,000. Finally, Financial Connections Group Inc. acquired a new position in shares of General Electric during the second quarter valued at $32,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GE shares. Melius Research increased their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Bank of America raised their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company raised their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Barclays boosted their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Up 3.4 %

GE stock opened at $184.92 on Friday. The firm has a market cap of $200.13 billion, a PE ratio of 32.50, a P/E/G ratio of 1.78 and a beta of 1.19. General Electric has a 12 month low of $90.34 and a 12 month high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $180.78 and a 200 day simple moving average of $169.90.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 earnings per share. Equities research analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.61%. General Electric’s payout ratio is presently 19.68%.

Insider Buying and Selling at General Electric

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

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.