1,368 Shares in General Electric (NYSE:GE) Purchased by Lifeworks Advisors LLC

Lifeworks Advisors LLC acquired a new position in shares of General Electric (NYSE:GE) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 1,368 shares of the conglomerate’s stock, valued at approximately $258,000.

A number of other large investors have also added to or reduced their stakes in GE. Studio Investment Management LLC boosted 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 purchasing an additional 78 shares during the period. Toth Financial Advisory Corp bought a new position in General Electric during the third quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in General Electric during the third quarter worth about $27,000. MFA Wealth Advisors LLC bought a new position in General Electric during the second quarter worth about $31,000. Finally, Costello Asset Management INC boosted its position in General Electric by 92.0% during the third quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 2.8 %

Shares of General Electric stock opened at $178.38 on Friday. General Electric has a 1 year low of $92.58 and a 1 year high of $194.80. The firm has a market cap of $193.06 billion, a PE ratio of 31.35, a PEG ratio of 1.81 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company has a 50 day simple moving average of $181.69 and a two-hundred day simple moving average of $170.43.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. Analysts expect 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. Shareholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend 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 presently 19.68%.

Insiders Place Their Bets

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction 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 transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective 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. Sanford C. Bernstein raised their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Barclays raised their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, UBS Group raised their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company 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.