Atlanta Consulting Group Advisors LLC Purchases 432 Shares of General Electric (NYSE:GE)

Atlanta Consulting Group Advisors LLC grew its position in General Electric (NYSE:GE) by 10.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,761 shares of the conglomerate’s stock after buying an additional 432 shares during the period. Atlanta Consulting Group Advisors LLC’s holdings in General Electric were worth $898,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Studio Investment Management LLC grew its holdings in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp acquired a new position in General Electric during the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric in the third quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric during the third quarter worth about $27,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of General Electric during the second quarter valued at about $31,000. 74.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on GE shares. Royal Bank of Canada dropped their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. UBS Group upped their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Melius Research lifted their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

Insider Activity

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.66% of the company’s stock.

General Electric Stock Performance

GE opened at $176.93 on Friday. The firm has a fifty day moving average price of $182.29 and a 200 day moving average price of $170.63. General Electric has a 1 year low of $93.05 and a 1 year high of $194.80. The stock has a market cap of $191.49 billion, a P/E ratio of 31.09, a P/E/G ratio of 1.75 and a beta of 1.19. 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 issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The company’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s 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.