General Electric (NYSE:GE) Shares Sold by Allworth Financial LP

Allworth Financial LP cut its position in shares of General Electric (NYSE:GE) by 51.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 21,909 shares of the conglomerate’s stock after selling 23,200 shares during the quarter. Allworth Financial LP’s holdings in General Electric were worth $4,132,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Studio Investment Management LLC lifted its holdings in General Electric by 97.5% in 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 bought a new stake in shares of General Electric in the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric during the third quarter valued at approximately $27,000. MFA Wealth Advisors LLC bought a new stake in General Electric during the second quarter worth approximately $31,000. Finally, Financial Connections Group Inc. acquired a new position in General Electric in the second quarter worth approximately $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Down 0.4 %

Shares of General Electric stock opened at $179.10 on Friday. The firm has a market cap of $194.20 billion, a price-to-earnings ratio of 31.48, a P/E/G ratio of 1.74 and a beta of 1.18. The stock has a 50-day simple moving average of $179.90 and a 200-day simple moving average of $168.48. General Electric has a 52-week low of $84.58 and a 52-week high of $194.80. 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 (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during 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 company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, equities research analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 annualized dividend and a yield of 0.63%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GE shares. Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Barclays lifted their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. UBS Group raised their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted 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, Bank of America raised their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $200.93.

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.