Elevated Capital Advisors LLC Decreases Stock Holdings in General Electric (NYSE:GE)

Elevated Capital Advisors LLC lessened its stake in General Electric (NYSE:GE) by 3.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,252 shares of the conglomerate’s stock after selling 279 shares during the quarter. Elevated Capital Advisors LLC’s holdings in General Electric were worth $1,376,000 at the end of the most recent reporting period.

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

Insider Activity

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction 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 approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 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. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on GE shares. Deutsche Bank Aktiengesellschaft lowered their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Bank of America upped their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. UBS Group lifted 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. Wells Fargo & Company upped their price objective on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $201.47.

General Electric Stock Down 0.1 %

GE traded down $0.21 during trading hours on Monday, hitting $171.48. 5,564,370 shares of the company’s stock were exchanged, compared to its average volume of 4,752,488. The firm has a market cap of $185.59 billion, a P/E ratio of 30.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. General Electric has a 12-month low of $100.95 and a 12-month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $174.34 and a 200 day moving average of $173.54.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the firm earned $0.82 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts predict that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio is presently 19.68%.

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.