General Electric (NYSE:GE) Shares Sold by Integrated Investment Consultants LLC

Integrated Investment Consultants LLC lessened its stake in shares of General Electric (NYSE:GE) by 12.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,185 shares of the conglomerate’s stock after selling 302 shares during the quarter. Integrated Investment Consultants LLC’s holdings in General Electric were worth $412,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. LPL Financial LLC lifted its position in General Electric by 5.3% during the 3rd quarter. LPL Financial LLC now owns 842,223 shares of the conglomerate’s stock worth $158,826,000 after acquiring an additional 42,490 shares in the last quarter. Cypress Capital Group lifted its position in shares of General Electric by 3.5% during the third quarter. Cypress Capital Group now owns 1,860 shares of the conglomerate’s stock worth $351,000 after purchasing an additional 63 shares in the last quarter. Cornerstone Advisors LLC boosted its stake in shares of General Electric by 1.6% in the third quarter. Cornerstone Advisors LLC now owns 50,500 shares of the conglomerate’s stock valued at $9,523,000 after purchasing an additional 800 shares during the period. Citizens Financial Group Inc. RI grew its holdings in General Electric by 20.1% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 8,617 shares of the conglomerate’s stock valued at $1,628,000 after purchasing an additional 1,445 shares in the last quarter. Finally, Payden & Rygel increased its stake in General Electric by 0.5% during the 3rd quarter. Payden & Rygel now owns 64,200 shares of the conglomerate’s stock worth $12,107,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GE shares. Bank of America raised their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein lifted their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. UBS Group increased their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company raised their price objective on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” 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 company’s stock. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Trading Up 1.3 %

NYSE:GE opened at $181.11 on Friday. The firm has a market capitalization of $196.01 billion, a P/E ratio of 31.83, a P/E/G ratio of 1.75 and a beta of 1.19. The business has a 50 day simple moving average of $183.22 and a 200 day simple moving average of $171.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a 12-month low of $94.54 and a 12-month high of $194.80.

General Electric (NYSE:GE) last announced 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. 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 previous year, the company posted $0.82 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts predict that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric’s payout ratio is currently 19.68%.

Insider Transactions at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business’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 sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.