Sheaff Brock Investment Advisors LLC Decreases Holdings in General Electric (NYSE:GE)

Sheaff Brock Investment Advisors LLC cut its holdings in shares of General Electric (NYSE:GE) by 5.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,928 shares of the conglomerate’s stock after selling 491 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in General Electric were worth $1,684,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Studio Investment Management LLC increased its position in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in shares of General Electric during the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric during the 3rd quarter valued at $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric during the 2nd quarter valued at $31,000. Finally, Costello Asset Management INC grew its stake in shares of General Electric by 92.0% during the 3rd quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 80 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of GE opened at $177.51 on Friday. The company has a market cap of $192.12 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a 50-day moving average price of $181.69 and a 200-day moving average price of $170.43. General Electric has a 12-month low of $93.05 and a 12-month high of $194.80.

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, beating analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $0.82 EPS. As a group, equities analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued 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 0.63%. General Electric’s dividend payout ratio is 19.68%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GE. Citigroup increased their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Company increased their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein increased their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average price target of $200.93.

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

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.