Capital Investment Advisors LLC Buys 767 Shares of General Electric (NYSE:GE)

Capital Investment Advisors LLC increased its stake in shares of General Electric (NYSE:GE) by 7.8% in the fourth quarter, Holdings Channel reports. The firm owned 10,618 shares of the conglomerate’s stock after buying an additional 767 shares during the quarter. Capital Investment Advisors LLC’s holdings in General Electric were worth $1,771,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Thoroughbred Financial Services LLC bought a new position in General Electric during the 2nd quarter worth approximately $907,000. Oppenheimer Asset Management Inc. bought a new position in shares of General Electric during the second quarter worth $556,000. Envestnet Asset Management Inc. grew its holdings in shares of General Electric by 15.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 967,639 shares of the conglomerate’s stock valued at $153,826,000 after buying an additional 131,033 shares during the period. Lyell Wealth Management LP increased its position in shares of General Electric by 7.0% in the 2nd quarter. Lyell Wealth Management LP now owns 1,525 shares of the conglomerate’s stock valued at $242,000 after buying an additional 100 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC raised its stake in General Electric by 15.5% during the 2nd quarter. Prime Capital Investment Advisors LLC now owns 35,169 shares of the conglomerate’s stock worth $5,591,000 after buying an additional 4,728 shares during the period. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup raised their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada cut their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Sanford C. Bernstein increased their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $201.47.

General Electric Stock Down 0.1 %

NYSE:GE opened at $171.48 on Tuesday. General Electric has a twelve month low of $100.95 and a twelve month high of $194.80. The firm has a market capitalization of $185.59 billion, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock’s 50 day moving average price is $174.34 and its two-hundred day moving average price is $173.62.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 earnings per share. Equities research analysts expect that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s dividend payout ratio (DPR) is currently 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.