Frazier Financial Advisors LLC Sells 114 Shares of General Electric (NYSE:GE)

Frazier Financial Advisors LLC lowered its stake in General Electric (NYSE:GE) by 32.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 233 shares of the conglomerate’s stock after selling 114 shares during the quarter. Frazier Financial Advisors LLC’s holdings in General Electric were worth $44,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GE. Newport Trust Company LLC bought a new position in shares of General Electric in the second quarter worth about $2,613,332,000. Capital World Investors raised its holdings in General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares during the last quarter. Capital International Investors raised its holdings in General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in General Electric in the 2nd quarter valued at approximately $580,200,000. Institutional investors own 74.77% of the company’s stock.

Insider Activity

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of research reports. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Barclays raised their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada dropped their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Melius Research raised their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company raised their price target on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Trading Down 0.8 %

NYSE GE opened at $176.93 on Friday. The company has a market cap of $191.49 billion, a price-to-earnings ratio of 31.09, a P/E/G ratio of 1.75 and a beta of 1.19. General Electric has a 52 week low of $93.05 and a 52 week high of $194.80. The business has a 50 day moving average price of $182.29 and a 200-day moving average price of $170.63. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate 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 quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.82 earnings per share. As a group, equities analysts expect that General Electric will post 4.22 earnings per share for the current fiscal 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 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 dividend yield of 0.63%. General Electric’s dividend payout ratio is 19.68%.

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.