Valley National Advisers Inc. Has $315,000 Holdings in General Electric (NYSE:GE)

Valley National Advisers Inc. lowered its stake in shares of General Electric (NYSE:GE) by 16.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,672 shares of the conglomerate’s stock after selling 331 shares during the period. Valley National Advisers Inc.’s holdings in General Electric were worth $315,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Studio Investment Management LLC boosted its position 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 buying an additional 78 shares during the last quarter. Toth Financial Advisory Corp bought a new position in General Electric during the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric during the 3rd quarter worth $27,000. MFA Wealth Advisors LLC bought a new stake in shares of General Electric in the 2nd quarter worth $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of General Electric in the second quarter valued at about $32,000. 74.77% of the stock is owned by institutional investors.

General Electric Stock Performance

NYSE GE opened at $179.10 on Monday. The company’s 50 day moving average is $179.90 and its 200-day moving average is $168.56. The firm has a market cap of $194.20 billion, a P/E ratio of 31.48, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. General Electric has a 12-month low of $84.58 and a 12-month high of $194.80. 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 (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the business posted $0.82 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is presently 19.68%.

Analysts Set New Price Targets

Several research firms recently weighed in on GE. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Sanford C. Bernstein boosted their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada decreased their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. 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. Finally, UBS Group raised their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.