General Electric (NYSE:GE) Shares Sold by Advisors Management Group Inc. ADV

Advisors Management Group Inc. ADV decreased its position in shares of General Electric (NYSE:GE) by 0.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 17,939 shares of the conglomerate’s stock after selling 149 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in General Electric were worth $3,383,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Toth Financial Advisory Corp acquired a new position in shares of General Electric in the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric in the third quarter valued at approximately $27,000. Studio Investment Management LLC raised 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 worth $25,000 after purchasing an additional 78 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric in the 2nd quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of General Electric in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 3.2 %

Shares of NYSE GE opened at $180.80 on Thursday. The company’s fifty day moving average is $180.47 and its 200-day moving average is $169.59. The stock has a market cap of $195.68 billion, a price-to-earnings ratio of 31.78, a P/E/G ratio of 1.70 and a beta of 1.19. 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 has a twelve month low of $88.68 and a twelve month high of $194.80.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating 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 firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the previous year, the company earned $0.82 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts predict that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

The company 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 annualized dividend and a dividend yield of 0.62%. General Electric’s dividend payout ratio is 19.68%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GE shares. Sanford C. Bernstein upped their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company boosted their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Citigroup upped their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Barclays boosted their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.93.

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.