Petredis Investment Advisors LLC Reduces Position in General Electric (NYSE:GE)

Petredis Investment Advisors LLC decreased its holdings in shares of General Electric (NYSE:GE) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,268 shares of the conglomerate’s stock after selling 764 shares during the quarter. General Electric comprises about 0.9% of Petredis Investment Advisors LLC’s portfolio, making the stock its 24th biggest holding. Petredis Investment Advisors LLC’s holdings in General Electric were worth $8,885,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Toth Financial Advisory Corp acquired a new position in shares of General Electric during the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of General Electric during the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric during the 3rd quarter valued at about $27,000. Peterson Financial Group Inc. acquired a new position in shares of General Electric during the 3rd quarter valued at about $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of General Electric during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GE shares. UBS Group boosted their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday. Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. upped their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday. Wells Fargo & Company increased their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Bank of America increased their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three equities 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.80.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred 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. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

General Electric Stock Down 2.0 %

GE stock opened at $196.81 on Friday. The company’s 50 day moving average price is $174.93 and its 200 day moving average price is $174.77. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a fifty-two week low of $103.75 and a fifty-two week high of $207.65. The firm has a market capitalization of $213.00 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 1.53 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. On average, equities research analysts anticipate that General Electric will post 4.23 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.57%. General Electric’s dividend payout ratio is currently 19.68%.

About General Electric

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.