Realta Investment Advisors Sells 2,032 Shares of General Electric (NYSE:GE)

Realta Investment Advisors trimmed its holdings in General Electric (NYSE:GE) by 41.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,882 shares of the conglomerate’s stock after selling 2,032 shares during the quarter. Realta Investment Advisors’ holdings in General Electric were worth $555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Studio Investment Management LLC increased its stake in 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 in the last quarter. Toth Financial Advisory Corp bought a new stake in General Electric in the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric in the 3rd quarter worth about $27,000. MFA Wealth Advisors LLC bought a new position in General Electric during the 2nd quarter valued at about $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of General Electric during the 2nd quarter valued at about $32,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GE shares. Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Citigroup increased their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Bank of America lifted their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Sanford C. Bernstein boosted their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Price Performance

Shares of NYSE GE traded down $0.08 during mid-day trading on Friday, reaching $171.70. The company’s stock had a trading volume of 3,984,932 shares, compared to its average volume of 6,328,877. The stock has a fifty day moving average of $180.20 and a two-hundred day moving average of $169.01. The firm has a market capitalization of $185.83 billion, a PE ratio of 30.18, a P/E/G ratio of 1.72 and a beta of 1.18. General Electric has a 52 week low of $85.89 and a 52 week high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last announced its quarterly earnings data 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 business had revenue of $9.84 billion during the quarter, compared to analyst estimates 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 was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $0.82 EPS. As a group, sell-side analysts anticipate that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

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

General Electric Company 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.