Independent Advisor Alliance Boosts Stake in General Electric (NYSE:GE)

Independent Advisor Alliance raised its position in General Electric (NYSE:GE) by 23.2% during the third quarter, HoldingsChannel.com reports. The firm owned 22,943 shares of the conglomerate’s stock after purchasing an additional 4,320 shares during the period. Independent Advisor Alliance’s holdings in General Electric were worth $4,326,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp purchased a new stake in General Electric in the 3rd quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new stake in General Electric in the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric in the 3rd quarter worth about $27,000. Peterson Financial Group Inc. purchased a new stake in General Electric in the 3rd quarter worth about $28,000. Finally, Studio Investment Management LLC raised its position in General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Trading Down 0.5 %

NYSE:GE opened at $180.21 on Tuesday. General Electric has a 12 month low of $94.54 and a 12 month high of $194.80. The firm has a fifty day simple moving average of $183.20 and a 200-day simple moving average of $171.22. 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 company has a market capitalization of $195.04 billion, a P/E ratio of 31.67, a PEG ratio of 1.78 and a beta of 1.19.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping 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 business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research analysts anticipate that General Electric will post 4.24 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 dividend of $0.28 per share. 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 related news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

GE has been the topic of a number of research reports. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Bank of America raised their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Barclays raised their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada reduced 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 given a buy rating to the company’s stock. According to data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus 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.