General Electric (NYSE:GE) Stake Reduced by Dopkins Wealth Management LLC

Dopkins Wealth Management LLC cut its holdings in General Electric (NYSE:GE) by 32.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,375 shares of the conglomerate’s stock after selling 666 shares during the quarter. Dopkins Wealth Management LLC’s holdings in General Electric were worth $259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Toth Financial Advisory Corp purchased a new position 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. Studio Investment Management LLC increased 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. Costello Asset Management INC increased its stake in General Electric by 92.0% in the 3rd quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 80 shares in the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in General Electric in the 2nd quarter worth about $31,000. 74.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the 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 completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

General Electric Trading Up 0.5 %

Shares of GE stock opened at $183.54 on Thursday. General Electric has a 12 month low of $92.46 and a 12 month high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average is $181.35 and its two-hundred day moving average is $170.33. The company has a market cap of $198.64 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 1.80 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter last year, the company posted $0.82 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts predict that General Electric will post 4.22 EPS for the current 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 dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.61%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GE. Bank of America lifted their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup lifted their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. UBS Group lifted their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have given 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.

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.