Advisors Asset Management Inc. Has $3.53 Million Position in General Electric (NYSE:GE)

Advisors Asset Management Inc. increased its holdings in General Electric (NYSE:GE) by 29.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,706 shares of the conglomerate’s stock after purchasing an additional 4,294 shares during the period. Advisors Asset Management Inc.’s holdings in General Electric were worth $3,528,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL grew its position in General Electric by 2.1% in the first quarter. Gamco Investors INC. ET AL now owns 41,249 shares of the conglomerate’s stock valued at $7,240,000 after acquiring an additional 830 shares during the period. Gabelli Funds LLC increased its position in shares of General Electric by 64.8% during the 1st quarter. Gabelli Funds LLC now owns 88,100 shares of the conglomerate’s stock worth $15,464,000 after purchasing an additional 34,650 shares in the last quarter. Manhattan West Asset Management LLC bought a new position in General Electric during the 1st quarter valued at about $222,000. Morse Asset Management Inc boosted its position in General Electric by 27.6% in the first quarter. Morse Asset Management Inc now owns 15,184 shares of the conglomerate’s stock valued at $2,665,000 after buying an additional 3,280 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC bought a new stake in General Electric during the first quarter worth about $299,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of several recent analyst reports. Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Wells Fargo & Company increased their target price on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. UBS Group increased their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Barclays boosted their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Up 1.3 %

Shares of General Electric stock opened at $181.11 on Friday. The business has a fifty day simple moving average of $183.22 and a 200 day simple moving average of $171.10. The stock has a market cap of $196.01 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. 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 has a 12 month low of $94.54 and a 12 month high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating 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 company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the prior year, the business posted $0.82 EPS. General Electric’s revenue was up 5.8% on a year-over-year basis. Research analysts predict that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 19.68%.

Insider Activity

In other news, SVP Russell Stokes sold 15,550 shares of the company’s 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 transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the 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 sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

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.