Advisors Management Group Inc. ADV Sells 149 Shares of General Electric (NYSE:GE)

Advisors Management Group Inc. ADV decreased its holdings in shares of General Electric (NYSE:GE) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,939 shares of the conglomerate’s stock after selling 149 shares during the period. Advisors Management Group Inc. ADV’s holdings in General Electric were worth $3,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its stake in General Electric by 10.5% during the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after buying an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC bought a new stake in shares of General Electric during the second quarter valued at approximately $1,569,000. GAMMA Investing LLC raised its holdings in shares of General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after acquiring an additional 3,442 shares in the last quarter. Senator Investment Group LP bought a new position in shares of General Electric during the second quarter valued at approximately $34,973,000. Finally, Blair William & Co. IL grew its stake in General Electric by 4.4% in the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after purchasing an additional 7,670 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of General Electric stock opened at $180.80 on Thursday. The firm has a market cap of $195.68 billion, a PE ratio of 31.78, a P/E/G ratio of 1.70 and a beta of 1.19. The business has a 50-day moving average price of $180.47 and a 200 day moving average price of $169.59. General Electric has a twelve month low of $88.68 and a twelve month high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its quarterly earnings data 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 analyst estimates of $9.02 billion. During the same quarter last year, the firm posted $0.82 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts predict that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company raised their target price on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. 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 note on Wednesday, October 23rd. Bank of America raised their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.