OneAscent Financial Services LLC Invests $625,000 in General Electric (NYSE:GE)

OneAscent Financial Services LLC purchased a new position in shares of General Electric (NYSE:GE) during the third quarter, Holdings Channel reports. The institutional investor purchased 3,311 shares of the conglomerate’s stock, valued at approximately $625,000.

Other institutional investors also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp bought a new stake in General Electric during the third quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric during the third quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric during the third quarter valued at about $27,000. Peterson Financial Group Inc. acquired a new stake in General Electric in the third quarter worth about $28,000. Finally, Studio Investment Management LLC boosted its holdings in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 0.4 %

General Electric stock opened at $177.58 on Tuesday. 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 52 week low of $94.54 and a 52 week high of $194.80. The company has a market capitalization of $192.19 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. The stock has a 50-day moving average price of $182.54 and a 200 day moving average price of $170.81.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (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 the consensus estimate of $9.02 billion. During the same period in the previous year, the company posted $0.82 earnings per share. General Electric’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts anticipate that General Electric will post 4.22 EPS for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is presently 19.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GE shares. Royal Bank of Canada lowered their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Bank of America raised their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup raised their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available through this link. 0.66% of the stock is currently owned by corporate insiders.

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.