General Electric (NYSE:GE) Shares Sold by Hardy Reed LLC

Hardy Reed LLC reduced its stake in General Electric (NYSE:GE) by 4.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,805 shares of the conglomerate’s stock after selling 243 shares during the period. Hardy Reed LLC’s holdings in General Electric were worth $1,095,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC increased its holdings in shares of General Electric by 0.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 28,358 shares of the conglomerate’s stock worth $4,978,000 after acquiring an additional 102 shares during the period. Janus Henderson Group PLC increased its stake in shares of General Electric by 38.7% in the first quarter. Janus Henderson Group PLC now owns 149,769 shares of the conglomerate’s stock valued at $26,280,000 after purchasing an additional 41,795 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in shares of General Electric by 13.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 20,303 shares of the conglomerate’s stock valued at $3,564,000 after buying an additional 2,420 shares during the last quarter. Comerica Bank boosted its position in shares of General Electric by 1.0% during the first quarter. Comerica Bank now owns 215,115 shares of the conglomerate’s stock worth $37,759,000 after buying an additional 2,052 shares during the period. Finally, Beacon Capital Management LLC grew its holdings 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 buying an additional 123 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GE. Bank of America increased their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada decreased their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company boosted 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. Sanford C. Bernstein increased their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Melius Research lifted their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Trading Up 2.4 %

Shares of NYSE GE opened at $184.60 on Wednesday. The stock has a market cap of $199.79 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 1.77 and a beta of 1.19. The business has a 50 day simple moving average of $183.29 and a 200 day simple moving average of $171.37. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a 52 week low of $94.54 and a 52 week high of $194.80.

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. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. On average, research 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 announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is 19.68%.

Insider Activity

In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade 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 this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value 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 approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

About General Electric

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.