Intelligence Driven Advisers LLC Sells 68 Shares of General Electric (NYSE:GE)

Intelligence Driven Advisers LLC lessened its holdings in General Electric (NYSE:GE) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,689 shares of the conglomerate’s stock after selling 68 shares during the quarter. Intelligence Driven Advisers LLC’s holdings in General Electric were worth $615,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GE. Creative Planning increased its position in General Electric by 9.0% during the 3rd quarter. Creative Planning now owns 196,581 shares of the conglomerate’s stock valued at $37,071,000 after buying an additional 16,258 shares in the last quarter. Magnus Financial Group LLC grew its stake in shares of General Electric by 46.9% in the third quarter. Magnus Financial Group LLC now owns 3,383 shares of the conglomerate’s stock worth $638,000 after acquiring an additional 1,080 shares during the last quarter. Petredis Investment Advisors LLC increased its holdings in shares of General Electric by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 54,032 shares of the conglomerate’s stock valued at $10,189,000 after acquiring an additional 214 shares in the last quarter. CFM Wealth Partners LLC purchased a new position in shares of General Electric in the 3rd quarter worth about $205,000. Finally, Opal Wealth Advisors LLC boosted its stake in General Electric by 11.1% in the 3rd quarter. Opal Wealth Advisors LLC now owns 1,197 shares of the conglomerate’s stock worth $226,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

GE opened at $209.71 on Thursday. The company’s 50 day moving average is $181.29 and its 200 day moving average is $178.78. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The company has a market cap of $225.08 billion, a price-to-earnings ratio of 35.01, a PEG ratio of 2.56 and a beta of 1.22. General Electric has a 12-month low of $110.95 and a 12-month high of $211.42.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. On average, equities research analysts predict that General Electric will post 5.39 EPS for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Friday, December 27th. General Electric’s payout ratio is 18.70%.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the 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 sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. UBS Group raised their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Citigroup boosted their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Melius Research upped their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, Bank of America upped their price target on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $208.73.

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.