General Electric (NYSE:GE) Shares Sold by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC reduced its stake in shares of General Electric (NYSE:GE) by 3.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,252 shares of the conglomerate’s stock after selling 279 shares during the period. Elevated Capital Advisors LLC’s holdings in General Electric were worth $1,376,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Toth Financial Advisory Corp purchased a new stake in General Electric during the third quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of General Electric during the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric during the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. acquired a new stake in shares of General Electric in the 3rd quarter worth approximately $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in General Electric in the 3rd quarter valued at approximately $30,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on GE. Wells Fargo & Company boosted their target price on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating on the stock. Bank of America lifted their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, Citigroup upped 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. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average target price of $201.47.

General Electric Trading Down 0.1 %

GE stock traded down $0.21 on Monday, hitting $171.48. 5,564,370 shares of the company were exchanged, compared to its average volume of 4,752,488. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a market capitalization of $185.59 billion, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. General Electric has a twelve month low of $100.95 and a twelve month high of $194.80. The business’s fifty day moving average is $174.34 and its two-hundred day moving average is $173.54.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the firm posted $0.82 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts forecast that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio is currently 19.68%.

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.