Frazier Financial Advisors LLC Sells 114 Shares of General Electric (NYSE:GE)

Frazier Financial Advisors LLC lessened its holdings in General Electric (NYSE:GE) by 32.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233 shares of the conglomerate’s stock after selling 114 shares during the quarter. Frazier Financial Advisors LLC’s holdings in General Electric were worth $44,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Capital International Investors grew its stake in General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the period. Newport Trust Company LLC bought a new position in General Electric in the 2nd quarter valued at $2,613,332,000. Capital World Investors grew its stake in General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Legal & General Group Plc grew its stake in General Electric by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after purchasing an additional 459,201 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after purchasing an additional 4,907,530 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE opened at $176.93 on Friday. The stock’s 50-day simple moving average is $182.29 and its 200 day simple moving average is $170.63. The stock has a market capitalization of $191.49 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a 52-week low of $93.05 and a 52-week high of $194.80.

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

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. General Electric’s payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GE. Deutsche Bank Aktiengesellschaft upped 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 upped their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Bank of America upped their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Melius Research upped their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company upped their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.66% of the company’s stock.

About General Electric

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.