Atria Investments Inc Raises Position in General Electric (NYSE:GE)

Atria Investments Inc lifted its stake in shares of General Electric (NYSE:GE) by 15.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,407 shares of the conglomerate’s stock after buying an additional 3,179 shares during the period. Atria Investments Inc’s holdings in General Electric were worth $4,414,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Avantax Advisory Services Inc. increased its stake in General Electric by 4.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 22,386 shares of the conglomerate’s stock valued at $3,929,000 after buying an additional 901 shares during the last quarter. Cozad Asset Management Inc. bought a new stake in General Electric during the first quarter worth $204,000. Edmond DE Rothschild Holding S.A. lifted its holdings in General Electric by 25.1% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 469 shares of the conglomerate’s stock worth $82,000 after acquiring an additional 94 shares during the period. TBH Global Asset Management LLC grew its stake in General Electric by 17.0% in the 1st quarter. TBH Global Asset Management LLC now owns 2,307 shares of the conglomerate’s stock valued at $405,000 after purchasing an additional 336 shares during the period. Finally, Kingsview Wealth Management LLC increased its position in shares of General Electric by 5.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 175,009 shares of the conglomerate’s stock valued at $30,719,000 after purchasing an additional 8,762 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GE. Sanford C. Bernstein boosted their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada lowered their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Citigroup boosted 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. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Performance

General Electric stock opened at $182.64 on Wednesday. The firm’s 50 day simple moving average is $180.98 and its 200 day simple moving average is $170.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1-year low of $91.77 and a 1-year high of $194.80. The firm has a market capitalization of $197.67 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 1.82 and a beta of 1.19.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $0.82 earnings per share. As a group, analysts expect that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.61%. General Electric’s payout ratio is presently 19.68%.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 0.00 % decrease in their position. The transaction 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.

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.