Hhlr Advisors LTD. Lowers Stock Position in General Electric (NYSE:GE)

Hhlr Advisors LTD. trimmed its stake in General Electric (NYSE:GE) by 37.9% during the third quarter, Holdings Channel.com reports. The fund owned 5,713 shares of the conglomerate’s stock after selling 3,485 shares during the period. Hhlr Advisors LTD.’s holdings in General Electric were worth $1,077,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Toth Financial Advisory Corp acquired a new position in General Electric during the third quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric in the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric during the 3rd quarter worth about $27,000. Peterson Financial Group Inc. purchased a new position in General Electric during the 3rd quarter valued at about $28,000. Finally, Studio Investment Management LLC grew its position in General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Bank of America upped their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein lifted their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. UBS Group upped their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.93.

Insider Buying and Selling

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 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 legal filing with the Securities & Exchange Commission, which is accessible 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 of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Trading Up 1.0 %

GE opened at $182.32 on Friday. 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 52 week low of $94.54 and a 52 week high of $194.80. The business’s 50 day moving average is $183.01 and its two-hundred day moving average is $171.66. The firm has a market cap of $197.32 billion, a price-to-earnings ratio of 32.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 EPS. On average, research analysts predict that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is currently 19.68%.

About General Electric

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.