General Electric (NYSE:GE) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. lowered its position in shares of General Electric (NYSE:GEFree Report) by 7.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,239 shares of the conglomerate’s stock after selling 93 shares during the period. Linscomb Wealth Inc.’s holdings in General Electric were worth $234,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Studio Investment Management LLC raised its stake in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in General Electric during the 3rd quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric in the third quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric during the third quarter worth about $27,000. Finally, MFA Wealth Advisors LLC acquired a new stake in General Electric in the second quarter valued at about $31,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

General Electric Price Performance

Shares of NYSE:GE opened at $176.89 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The business’s fifty day moving average price is $182.29 and its two-hundred day moving average price is $170.57. The stock has a market cap of $191.45 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19. General Electric has a one year low of $93.05 and a one year high of $194.80.

General Electric (NYSE:GEGet Free Report) last issued its quarterly earnings data 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 business had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 earnings per share. On average, analysts forecast that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.63%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. 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. Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Sanford C. Bernstein raised their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

View Our Latest Analysis on General Electric

General Electric Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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