General Electric (NYSE:GE) Stock Holdings Decreased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its position in General Electric (NYSE:GE) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,276 shares of the conglomerate’s stock after selling 5,385 shares during the period. Janney Montgomery Scott LLC’s holdings in General Electric were worth $28,339,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Indie Asset Partners LLC acquired a new stake in shares of General Electric during the third quarter worth approximately $207,000. REDW Wealth LLC acquired a new stake in shares of General Electric during the third quarter worth approximately $224,000. Pure Financial Advisors LLC boosted its holdings in shares of General Electric by 10.9% during the third quarter. Pure Financial Advisors LLC now owns 3,261 shares of the conglomerate’s stock worth $615,000 after purchasing an additional 321 shares during the period. Clear Creek Financial Management LLC boosted its holdings in shares of General Electric by 17.0% during the third quarter. Clear Creek Financial Management LLC now owns 1,963 shares of the conglomerate’s stock worth $370,000 after purchasing an additional 285 shares during the period. Finally, F M Investments LLC acquired a new stake in shares of General Electric during the third quarter worth approximately $297,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Price Performance

Shares of General Electric stock opened at $171.76 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $185.89 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 1.70 and a beta of 1.19. General Electric has a 1-year low of $86.83 and a 1-year high of $194.80. The firm’s 50-day moving average price is $180.21 and its two-hundred day moving average price is $169.32.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating 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 analysts’ expectations of $9.02 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. General Electric’s revenue was up 5.8% compared to the same quarter last year. On average, equities analysts predict that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid 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 dividend yield of 0.65%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Barclays lifted their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. UBS Group lifted their target price on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Bank of America lifted their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.93.

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.