Independent Advisor Alliance Increases Stock Position in General Electric (NYSE:GE)

Independent Advisor Alliance increased its position in General Electric (NYSE:GE) by 23.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,943 shares of the conglomerate’s stock after acquiring an additional 4,320 shares during the period. Independent Advisor Alliance’s holdings in General Electric were worth $4,326,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GE. Mount Yale Investment Advisors LLC purchased a new stake in General Electric during the 1st quarter valued at $299,000. Caxton Associates LP purchased a new stake in General Electric during the 1st quarter valued at $744,000. Silvercrest Asset Management Group LLC raised its stake in General Electric by 0.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 28,358 shares of the conglomerate’s stock valued at $4,978,000 after buying an additional 102 shares during the last quarter. Waverly Advisors LLC raised its stake in General Electric by 54.1% during the 1st quarter. Waverly Advisors LLC now owns 8,891 shares of the conglomerate’s stock valued at $1,561,000 after buying an additional 3,120 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in General Electric by 38.7% during the 1st quarter. Janus Henderson Group PLC now owns 149,769 shares of the conglomerate’s stock valued at $26,280,000 after buying an additional 41,795 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Down 0.5 %

Shares of General Electric stock opened at $180.21 on Tuesday. The company has a fifty day moving average of $183.20 and a 200 day moving average of $171.22. General Electric has a fifty-two week low of $94.54 and a fifty-two week high of $194.80. The company has a market capitalization of $195.04 billion, a P/E ratio of 31.67, a P/E/G ratio of 1.78 and a beta of 1.19. 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 released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The business’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. 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. Melius Research upped their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Barclays upped their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. 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. Finally, Sanford C. Bernstein upped their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now 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. Insiders own 0.66% of the company’s stock.

General Electric 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.