Sequoia Financial Advisors LLC Buys 1,971 Shares of General Electric (NYSE:GE)

Sequoia Financial Advisors LLC grew its stake in General Electric (NYSE:GE) by 5.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,277 shares of the conglomerate’s stock after acquiring an additional 1,971 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in General Electric were worth $6,244,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Sapient Capital LLC bought a new position in shares of General Electric in the fourth quarter worth approximately $331,000. Perigon Wealth Management LLC lifted its position in General Electric by 2.2% in the 4th quarter. Perigon Wealth Management LLC now owns 11,285 shares of the conglomerate’s stock valued at $1,440,000 after acquiring an additional 246 shares in the last quarter. Meitav Investment House Ltd. bought a new position in General Electric in the 4th quarter valued at approximately $234,000. NewEdge Wealth LLC boosted its stake in General Electric by 2.9% during the 4th quarter. NewEdge Wealth LLC now owns 6,775 shares of the conglomerate’s stock valued at $865,000 after purchasing an additional 192 shares during the last quarter. Finally, Live Oak Private Wealth LLC bought a new stake in shares of General Electric in the 4th quarter worth $219,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at $18,391,821.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by corporate insiders.

General Electric Stock Performance

NYSE:GE traded up $0.37 during mid-day trading on Tuesday, hitting $167.24. 739,023 shares of the company traded hands, compared to its average volume of 6,979,016. The stock’s fifty day moving average price is $162.67 and its 200-day moving average price is $159.47. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a one year low of $84.42 and a one year high of $177.20. The firm has a market cap of $183.06 billion, a price-to-earnings ratio of 54.71, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period in the prior year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts anticipate that General Electric will post 4.15 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. General Electric’s payout ratio is 36.72%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GE. Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. JPMorgan Chase & Co. upped their target price on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. UBS Group lifted their price target on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Royal Bank of Canada boosted their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group lifted their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $190.38.

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.