Janney Montgomery Scott LLC Sells 5,385 Shares of General Electric (NYSE:GE)

Janney Montgomery Scott LLC lowered its holdings in General Electric (NYSE:GE) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,276 shares of the conglomerate’s stock after selling 5,385 shares during the period. Janney Montgomery Scott LLC’s holdings in General Electric were worth $28,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Toth Financial Advisory Corp bought a new position in shares of General Electric in the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric in the 3rd quarter worth about $27,000. Studio Investment Management LLC raised its stake in General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC acquired a new stake in General Electric in the 2nd quarter worth about $31,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of General Electric in the 1st quarter valued at approximately $34,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 0.0 %

Shares of NYSE GE opened at $171.76 on Tuesday. The company has a market capitalization of $185.89 billion, a P/E ratio of 30.19, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19. General Electric has a 52-week low of $86.83 and a 52-week high of $194.80. 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’s 50 day moving average price is $180.21 and its 200-day moving average price is $169.32.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 EPS. Equities analysts forecast that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. General Electric’s payout ratio is presently 19.68%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GE shares. UBS Group boosted their target price 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. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company lifted their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Bank of America lifted their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average target price 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.