General Electric (NYSE:GE) Stock Holdings Decreased by Proficio Capital Partners LLC

Proficio Capital Partners LLC reduced its position in General Electric (NYSE:GE) by 33.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,051 shares of the conglomerate’s stock after selling 1,048 shares during the period. Proficio Capital Partners LLC’s holdings in General Electric were worth $387,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in GE. Norden Group LLC purchased a new position in shares of General Electric in the first quarter worth approximately $234,000. Meeder Asset Management Inc. increased its position in shares of General Electric by 4.0% in the first quarter. Meeder Asset Management Inc. now owns 2,742 shares of the conglomerate’s stock worth $481,000 after acquiring an additional 106 shares in the last quarter. Verus Capital Partners LLC purchased a new position in shares of General Electric in the first quarter worth approximately $251,000. US Bancorp DE increased its position in shares of General Electric by 2.8% in the first quarter. US Bancorp DE now owns 317,498 shares of the conglomerate’s stock worth $55,731,000 after acquiring an additional 8,782 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its position in shares of General Electric by 4.2% in the first quarter. Avantax Advisory Services Inc. now owns 22,386 shares of the conglomerate’s stock worth $3,929,000 after acquiring an additional 901 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Bank of America boosted their price objective 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. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada lowered their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, UBS Group boosted their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $200.93.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is owned by corporate insiders.

General Electric Price Performance

Shares of General Electric stock opened at $184.81 on Monday. The firm has a fifty day simple moving average of $180.78 and a 200-day simple moving average of $169.95. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1-year low of $90.34 and a 1-year high of $194.80. The stock has a market capitalization of $200.02 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 1.78 and a beta of 1.19.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the previous year, the company earned $0.82 earnings per share. General Electric’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

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.