Adero Partners LLC Makes New $232,000 Investment in General Electric (NYSE:GE)

Adero Partners LLC acquired a new stake in General Electric (NYSE:GE) during the third quarter, HoldingsChannel.com reports. The fund acquired 1,229 shares of the conglomerate’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GE. Davis R M Inc. boosted its holdings in General Electric by 18.8% in the first quarter. Davis R M Inc. now owns 3,696 shares of the conglomerate’s stock valued at $649,000 after purchasing an additional 586 shares in the last quarter. Trustmark National Bank Trust Department boosted its holdings in shares of General Electric by 10.7% in the 1st quarter. Trustmark National Bank Trust Department now owns 3,437 shares of the conglomerate’s stock valued at $603,000 after buying an additional 332 shares in the last quarter. Bahl & Gaynor Inc. boosted its holdings in shares of General Electric by 4.6% in the 1st quarter. Bahl & Gaynor Inc. now owns 5,686 shares of the conglomerate’s stock valued at $998,000 after buying an additional 251 shares in the last quarter. UniSuper Management Pty Ltd grew its position in shares of General Electric by 141.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 20,650 shares of the conglomerate’s stock valued at $3,625,000 after buying an additional 12,099 shares during the last quarter. Finally, Safeguard Investment Advisory Group LLC purchased a new stake in shares of General Electric in the 1st quarter valued at about $204,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Down 0.8 %

General Electric stock opened at $176.93 on Monday. The firm has a market capitalization of $191.49 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. General Electric has a fifty-two week low of $93.05 and a fifty-two week high of $194.80. The stock’s fifty day moving average is $182.29 and its two-hundred day moving average is $170.71. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

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 firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 EPS. Analysts predict that General Electric will post 4.22 EPS for the current fiscal 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 paid a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.63%. General Electric’s payout ratio is currently 19.68%.

Insider Activity

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 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 34.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GE. Royal Bank of Canada reduced their price objective 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. Bank of America increased their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Barclays boosted their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. 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 research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus price target 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.