Beacon Investment Advisory Services Inc. Makes New $209,000 Investment in General Electric (NYSE:GE)

Beacon Investment Advisory Services Inc. acquired a new position in General Electric (NYSE:GE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,108 shares of the conglomerate’s stock, valued at approximately $209,000.

Other large investors have also recently bought and sold shares of the company. Fulton Bank N.A. increased its position in shares of General Electric by 16.7% in the second quarter. Fulton Bank N.A. now owns 1,712 shares of the conglomerate’s stock valued at $272,000 after buying an additional 245 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of General Electric by 8.7% in the second quarter. Park Avenue Securities LLC now owns 48,056 shares of the conglomerate’s stock valued at $7,639,000 after buying an additional 3,861 shares in the last quarter. Apella Capital LLC increased its position in shares of General Electric by 4.5% in the second quarter. Apella Capital LLC now owns 3,083 shares of the conglomerate’s stock valued at $503,000 after buying an additional 134 shares in the last quarter. CWM LLC increased its position in shares of General Electric by 17.1% in the second quarter. CWM LLC now owns 120,671 shares of the conglomerate’s stock valued at $19,183,000 after buying an additional 17,608 shares in the last quarter. Finally, Aprio Wealth Management LLC purchased a new position in shares of General Electric in the second quarter valued at $202,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GE. Citigroup raised their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group lifted their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada dropped their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Melius Research lifted their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Down 1.0 %

Shares of NYSE:GE opened at $180.41 on Tuesday. The stock’s 50-day moving average price is $183.01 and its two-hundred day moving average price is $171.80. 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 12-month low of $94.54 and a 12-month high of $194.80. The firm has a market cap of $195.25 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 1.79 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS. On average, research analysts forecast that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

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 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is currently 19.68%.

Insider Activity

In other 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 value of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

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.