Empower Advisory Group LLC Sells 98 Shares of General Electric (NYSE:GE)

Empower Advisory Group LLC reduced its holdings in General Electric (NYSE:GE) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,890 shares of the conglomerate’s stock after selling 98 shares during the period. Empower Advisory Group LLC’s holdings in General Electric were worth $545,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Studio Investment Management LLC increased its position in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the period. Toth Financial Advisory Corp acquired a new stake in General Electric in the 3rd quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric in the 3rd quarter worth $27,000. MFA Wealth Advisors LLC bought a new position in shares of General Electric during the 2nd quarter worth about $31,000. Finally, Costello Asset Management INC raised its position 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 last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Price Performance

General Electric stock opened at $178.38 on Friday. The business’s 50-day simple moving average is $181.69 and its 200 day simple moving average is $170.43. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock has a market cap of $193.06 billion, a price-to-earnings ratio of 31.35, a P/E/G ratio of 1.80 and a beta of 1.19. General Electric has a 12-month low of $92.58 and a 12-month high of $194.80.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The company 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 company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 EPS. As a group, research analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Analyst Ratings Changes

GE has been the subject of a number of research reports. Melius Research raised their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. UBS Group lifted their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Company lifted their target price on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price target 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. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on 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 directly owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.66% of the stock is owned by corporate insiders.

General Electric Company 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.