General Electric (NYSE:GE) Position Raised by Avestar Capital LLC

Avestar Capital LLC lifted its position in General Electric (NYSE:GE) by 11.1% during the third quarter, Holdings Channel reports. The institutional investor owned 5,273 shares of the conglomerate’s stock after buying an additional 527 shares during the quarter. Avestar Capital LLC’s holdings in General Electric were worth $996,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Silvercrest Asset Management Group LLC boosted its holdings in General Electric by 0.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 28,358 shares of the conglomerate’s stock worth $4,978,000 after buying an additional 102 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of General Electric by 38.7% during the 1st quarter. Janus Henderson Group PLC now owns 149,769 shares of the conglomerate’s stock worth $26,280,000 after acquiring an additional 41,795 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of General Electric by 13.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 20,303 shares of the conglomerate’s stock worth $3,564,000 after acquiring an additional 2,420 shares during the last quarter. Comerica Bank lifted its holdings in shares of General Electric by 1.0% during the first quarter. Comerica Bank now owns 215,115 shares of the conglomerate’s stock valued at $37,759,000 after purchasing an additional 2,052 shares during the last quarter. Finally, Beacon Capital Management LLC increased its stake in General Electric by 32.8% in the 1st quarter. Beacon Capital Management LLC now owns 498 shares of the conglomerate’s stock worth $87,000 after purchasing an additional 123 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

NYSE GE opened at $184.60 on Wednesday. The company has a 50 day moving average price of $183.29 and a two-hundred day moving average price of $171.37. General Electric has a 12-month low of $94.54 and a 12-month high of $194.80. The stock has a market capitalization of $199.79 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 1.77 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 (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 earnings per share. As a group, equities analysts predict that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed 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 0.61%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is currently 19.68%.

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GE has been the topic of several analyst reports. Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group boosted their target price on shares of General Electric from $223.00 to $230.00 and gave the company 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 stock a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, 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. Two 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 an average rating of “Moderate Buy” and an average price target of $200.93.

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.