Concurrent Investment Advisors LLC Sells 72,514 Shares of General Electric (NYSE:GE)

Concurrent Investment Advisors LLC lowered its stake in General Electric (NYSE:GE) by 77.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,411 shares of the conglomerate’s stock after selling 72,514 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in General Electric were worth $3,897,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Tsfg LLC boosted its holdings in General Electric by 12.8% in the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after acquiring an additional 55 shares during the last quarter. Macroview Investment Management LLC increased its position in shares of General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after buying an additional 58 shares during the period. Strategic Advisors LLC raised its stake in General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after buying an additional 58 shares during the last quarter. Allegheny Financial Group LTD lifted its holdings in General Electric by 1.4% in the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after buying an additional 61 shares during the period. Finally, New England Research & Management Inc. boosted its position in General Electric by 2.2% during the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 3.2 %

NYSE GE opened at $180.80 on Thursday. 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 has a fifty day simple moving average of $180.47 and a 200 day simple moving average of $169.59. General Electric has a 12 month low of $88.68 and a 12 month high of $194.80. The firm has a market capitalization of $195.68 billion, a P/E ratio of 31.78, a PEG ratio of 1.70 and a beta of 1.19.

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

General Electric Announces Dividend

The firm also recently announced 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 0.62%. General Electric’s payout ratio is presently 19.68%.

Analysts Set New Price Targets

GE has been the topic of a number of recent analyst reports. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. UBS Group boosted their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein increased their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company lifted their price objective on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Bank of America raised their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two 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, General Electric has an average rating of “Moderate Buy” and a consensus price target of $200.93.

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.