General Electric (NYSE:GE) Shares Sold by J.P. Marvel Investment Advisors LLC

J.P. Marvel Investment Advisors LLC trimmed its position in General Electric (NYSE:GE) by 0.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,471 shares of the conglomerate’s stock after selling 80 shares during the period. General Electric accounts for about 0.9% of J.P. Marvel Investment Advisors LLC’s investment portfolio, making the stock its 29th biggest holding. J.P. Marvel Investment Advisors LLC’s holdings in General Electric were worth $5,558,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Studio Investment Management LLC increased its holdings in shares of 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 during the last quarter. Toth Financial Advisory Corp bought a new stake in General Electric during the third quarter valued at $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric during the third quarter valued at $27,000. MFA Wealth Advisors LLC bought a new position in shares of General Electric in the 2nd quarter worth about $31,000. Finally, Financial Connections Group Inc. acquired a new position in shares of General Electric in the 2nd quarter valued at about $32,000. 74.77% of the stock is owned by institutional investors.

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by insiders.

General Electric Trading Down 1.1 %

NYSE GE opened at $178.85 on Friday. The firm’s 50 day moving average price is $180.47 and its two-hundred day moving average price is $169.59. 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 has a twelve month low of $89.59 and a twelve month high of $194.80. The stock has a market cap of $193.57 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 1.70 and a beta of 1.19.

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, 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 firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts anticipate that General Electric will post 4.22 EPS for the current year.

General Electric Dividend Announcement

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 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is currently 19.68%.

Analyst Ratings Changes

GE has been the topic of several research reports. Royal Bank of Canada dropped their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. UBS Group upped their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Bank of America raised their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric currently 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.