OneDigital Investment Advisors LLC Acquires 20,995 Shares of General Electric (NYSE:GE)

OneDigital Investment Advisors LLC increased its holdings in shares of General Electric (NYSE:GE) by 66.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,780 shares of the conglomerate’s stock after buying an additional 20,995 shares during the period. OneDigital Investment Advisors LLC’s holdings in General Electric were worth $9,953,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Lifeworks Advisors LLC acquired a new position in General Electric in the third quarter valued at about $258,000. Intelligence Driven Advisers LLC raised its position in shares of General Electric by 29.1% in the 3rd quarter. Intelligence Driven Advisers LLC now owns 3,757 shares of the conglomerate’s stock valued at $708,000 after acquiring an additional 847 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in General Electric by 4.1% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 31,352 shares of the conglomerate’s stock worth $5,912,000 after acquiring an additional 1,229 shares during the last quarter. Planning Capital Management Corp grew its holdings in General Electric by 918.2% during the third quarter. Planning Capital Management Corp now owns 560 shares of the conglomerate’s stock valued at $106,000 after purchasing an additional 505 shares during the period. Finally, Zions Bancorporation N.A. increased its stake in General Electric by 23.7% in the third quarter. Zions Bancorporation N.A. now owns 2,891 shares of the conglomerate’s stock valued at $545,000 after purchasing an additional 553 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on 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 sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GE. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Citigroup boosted their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Price Performance

NYSE:GE opened at $178.38 on Friday. General Electric has a 52-week low of $92.58 and a 52-week high of $194.80. The company has a market cap of $193.06 billion, a P/E ratio of 31.35, a P/E/G ratio of 1.81 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock’s 50-day simple moving average is $181.69 and its 200 day simple moving average is $170.43.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share 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 analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 EPS. As a group, sell-side analysts forecast that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given 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 presently 19.68%.

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.