Signature Estate & Investment Advisors LLC Reduces Stock Position in General Electric (NYSE:GE)

Signature Estate & Investment Advisors LLC cut its stake in General Electric (NYSE:GE) by 16.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,177 shares of the conglomerate’s stock after selling 820 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in General Electric were worth $788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in GE. Studio Investment Management LLC grew its position 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 acquiring an additional 78 shares during the period. Toth Financial Advisory Corp purchased a new position in General Electric in the third quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric in the third quarter worth approximately $27,000. MFA Wealth Advisors LLC purchased a new position in General Electric in the second quarter worth approximately $31,000. Finally, Costello Asset Management INC grew its position in General Electric by 92.0% in the third quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 80 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Down 0.8 %

GE stock opened at $176.89 on Friday. The stock has a market capitalization of $191.45 billion, a P/E ratio of 31.09, a PEG ratio of 1.81 and a beta of 1.19. 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 one year low of $93.05 and a one year high of $194.80. The company has a 50 day moving average price of $182.29 and a two-hundred day moving average price of $170.57.

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

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.63%. General Electric’s payout ratio is currently 19.68%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GE. Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Bank of America raised their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on 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 completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.

General Electric Company 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.