General Electric (NYSE:GE) Shares Sold by Hudson Valley Investment Advisors Inc. ADV

Hudson Valley Investment Advisors Inc. ADV lowered its holdings in General Electric (NYSE:GE) by 7.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,840 shares of the conglomerate’s stock after selling 300 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in General Electric were worth $724,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Studio Investment Management LLC boosted its holdings in shares of General Electric by 97.5% during 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 period. Toth Financial Advisory Corp acquired a new stake in shares of General Electric in the third quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric in the third quarter worth $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric in the second quarter worth $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of General Electric in the second quarter worth $32,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. 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. Citigroup boosted their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Up 0.4 %

GE opened at $174.70 on Thursday. The firm’s 50-day simple moving average is $180.14 and its 200-day simple moving average is $168.87. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a twelve month low of $84.66 and a twelve month high of $194.80. The firm has a market cap of $189.08 billion, a price-to-earnings ratio of 30.70, a PEG ratio of 1.74 and a beta of 1.18.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that General Electric will post 4.2 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. Investors of record on Thursday, September 26th were given 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 0.64%. General Electric’s dividend payout ratio (DPR) is 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.