General Electric (NYSE:GE) Shares Acquired by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC boosted its position in General Electric (NYSE:GE) by 269.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,201 shares of the conglomerate’s stock after purchasing an additional 20,575 shares during the quarter. Soltis Investment Advisors LLC’s holdings in General Electric were worth $5,318,000 as of its most recent filing with the Securities and Exchange Commission.

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

General Electric Trading Down 0.0 %

NYSE GE opened at $171.29 on Wednesday. The stock has a market cap of $185.39 billion, a P/E ratio of 30.10, a PEG ratio of 1.69 and a beta of 1.17. The company’s fifty day simple moving average is $181.76 and its 200-day simple moving average is $172.48. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 52 week low of $95.71 and a 52 week high of $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 EPS. Equities research analysts predict that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GE shares. Bank of America boosted their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein boosted 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. Melius Research increased their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted 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. Finally, Royal Bank of Canada cut their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price 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.