Rockbridge Investment Management LCC Sells 1,080 Shares of General Electric (NYSE:GE)

Rockbridge Investment Management LCC lowered its stake in General Electric (NYSE:GE) by 25.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,100 shares of the conglomerate’s stock after selling 1,080 shares during the period. Rockbridge Investment Management LCC’s holdings in General Electric were worth $585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Toth Financial Advisory Corp bought a new position in shares of General Electric during the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric during the third quarter valued at approximately $27,000. Studio Investment Management LLC raised its holdings 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 valued at $25,000 after acquiring an additional 78 shares in the last quarter. MFA Wealth Advisors LLC bought a new position in shares of General Electric during the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. bought a new position in shares of General Electric during the second quarter valued at approximately $32,000. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 3.4 %

General Electric stock opened at $184.92 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a one year low of $90.34 and a one year high of $194.80. The stock has a market capitalization of $200.13 billion, a PE ratio of 32.50, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. The business’s fifty day moving average is $180.78 and its 200 day moving average is $169.90.

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 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 analysts’ expectations of $9.02 billion. During the same period last year, the firm posted $0.82 earnings per share. General Electric’s revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts predict that General Electric will post 4.22 EPS for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.61%. General Electric’s payout ratio is 19.68%.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was 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 approximately $2,407,036.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Melius Research increased their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Royal Bank of Canada decreased their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Citigroup increased their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein increased their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $200.93.

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.