AdvisorNet Financial Inc Buys 283 Shares of General Electric (NYSE:GE)

AdvisorNet Financial Inc boosted its position in shares of General Electric (NYSE:GE) by 1.8% during the 4th quarter, HoldingsChannel reports. The fund owned 16,223 shares of the conglomerate’s stock after buying an additional 283 shares during the quarter. AdvisorNet Financial Inc’s holdings in General Electric were worth $2,706,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp acquired a new position in General Electric in the third quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of General Electric in the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric during the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. acquired a new stake in General Electric in the 3rd quarter valued at $28,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in General Electric in the third quarter valued at $30,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric 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 transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GE. Melius Research boosted their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada reduced their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Citigroup increased their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Price Performance

Shares of GE stock opened at $171.48 on Tuesday. The firm’s 50 day moving average price is $174.34 and its two-hundred day moving average price is $173.62. 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 52-week low of $100.95 and a 52-week high of $194.80. The stock has a market cap of $185.59 billion, a PE ratio of 30.14, a PEG ratio of 1.63 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 (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. The business 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 firm’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $0.82 EPS. As a group, analysts forecast that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

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