Sheaff Brock Investment Advisors LLC Decreases Stake in General Electric (NYSE:GE)

Sheaff Brock Investment Advisors LLC reduced its stake in General Electric (NYSE:GE) by 5.2% during the third quarter, Holdings Channel.com reports. The firm owned 8,928 shares of the conglomerate’s stock after selling 491 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in General Electric were worth $1,684,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Studio Investment Management LLC increased its stake in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares during the period. Toth Financial Advisory Corp purchased a new position in shares of General Electric during the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new position in shares of General Electric during the third quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new position in shares of General Electric during the second quarter valued at approximately $31,000. Finally, Costello Asset Management INC increased its stake in shares of General Electric by 92.0% during the third quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock valued at $31,000 after buying an additional 80 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GE has been the topic of several research analyst reports. Citigroup boosted their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company lifted their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein lifted their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Bank of America lifted their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada dropped their price target on 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 analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

Insider Transactions at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Down 0.5 %

GE stock opened at $177.51 on Friday. General Electric has a fifty-two week low of $93.05 and a fifty-two week high of $194.80. The business’s 50-day moving average is $181.69 and its two-hundred day moving average is $170.43. 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 company has a market cap of $192.12 billion, a price-to-earnings ratio of 31.35, a P/E/G ratio of 1.81 and a beta of 1.19.

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

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

About General Electric

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.