General Electric (NYSE:GE) Shares Sold by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC trimmed its stake in shares of General Electric (NYSE:GE) by 7.3% during the third quarter, Holdings Channel reports. The firm owned 2,218 shares of the conglomerate’s stock after selling 174 shares during the period. Octavia Wealth Advisors LLC’s holdings in General Electric were worth $419,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Mackenzie Financial Corp increased its position in General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after buying an additional 57,372 shares during the period. Marietta Investment Partners LLC bought a new position in shares of General Electric during the second quarter worth about $1,569,000. Vanguard Group Inc. increased its holdings in shares of General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after acquiring an additional 550,996 shares during the period. GAMMA Investing LLC raised its holdings in shares of General Electric by 25.4% during the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after buying an additional 3,442 shares during the last quarter. Finally, Senator Investment Group LP acquired a new position in General Electric during the 2nd quarter worth $34,973,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 1.6 %

Shares of GE traded up $3.04 during trading hours on Friday, reaching $191.16. The company’s stock had a trading volume of 2,983,933 shares, compared to its average volume of 6,415,765. The company has a 50 day moving average of $175.61 and a two-hundred day moving average of $166.65. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The firm has a market cap of $207.28 billion, a price-to-earnings ratio of 45.31, a P/E/G ratio of 1.86 and a beta of 1.18. General Electric has a 1-year low of $84.42 and a 1-year high of $191.76.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the previous year, the company posted $0.68 EPS. General Electric’s revenue was up 3.9% on a year-over-year basis. As a group, research analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.59%. General Electric’s dividend payout ratio is 26.54%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Citigroup boosted their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday. Sanford C. Bernstein assumed coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price for the company. Jefferies Financial Group upped their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $195.14.

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.