General Electric (NYSE:GE) Shares Sold by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC lowered its stake in General Electric (NYSE:GE) by 26.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,872 shares of the conglomerate’s stock after selling 675 shares during the period. Main Street Financial Solutions LLC’s holdings in General Electric were worth $353,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Toth Financial Advisory Corp bought a new position in General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric in the third quarter worth $27,000. Studio Investment Management LLC raised its holdings in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. Costello Asset Management INC lifted its position in shares of General Electric by 92.0% in the 3rd quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after buying an additional 80 shares during the last quarter. Finally, MFA Wealth Advisors LLC acquired a new position in shares of General Electric in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insiders Place Their Bets

In other General Electric news, 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 completion of the sale, the senior vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

General Electric Trading Down 2.8 %

NYSE:GE opened at $178.38 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market capitalization of $193.06 billion, a P/E ratio of 31.35, a P/E/G ratio of 1.80 and a beta of 1.19. The stock’s 50 day moving average price is $181.69 and its 200 day moving average price is $170.43. General Electric has a 52 week low of $92.58 and a 52 week high of $194.80.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter last year, the firm earned $0.82 EPS. General Electric’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts forecast that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Melius Research upped their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Bank of America lifted their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup increased their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company raised their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.