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Soltis Investment Advisors LLC Grows Stock Position in General Electric (NYSE:GE)

General Electric logo with Transportation background

Soltis Investment Advisors LLC increased its holdings in shares of General Electric (NYSE:GE - Free Report) by 269.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,201 shares of the conglomerate's stock after acquiring an additional 20,575 shares during the period. Soltis Investment Advisors LLC's holdings in General Electric were worth $5,318,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Newport Trust Company LLC acquired a new stake in shares of General Electric in the second quarter valued at about $2,613,332,000. Jennison Associates LLC lifted its stake in General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate's stock valued at $1,465,598,000 after buying an additional 3,719,894 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in General Electric in the 2nd quarter worth about $580,200,000. International Assets Investment Management LLC increased its stake in General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate's stock worth $598,391,000 after buying an additional 3,158,153 shares in the last quarter. Finally, Wulff Hansen & CO. raised its holdings in shares of General Electric by 18,693.9% during the second quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate's stock valued at $256,581,000 after acquiring an additional 1,605,434 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GE shares. UBS Group lifted their price target on General Electric from $223.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada lowered 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 note on Wednesday, October 23rd. Wells Fargo & Company increased their target price on shares of General Electric from $210.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday. Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein raised their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, General Electric presently has a consensus rating of "Moderate Buy" and a consensus target price of $201.93.

Check Out Our Latest Analysis on GE

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business's stock in a transaction dated 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 directly owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares of the company's stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

General Electric Trading Down 1.5 %

Shares of General Electric stock traded down $2.64 during trading hours on Wednesday, hitting $168.63. The company's stock had a trading volume of 7,603,131 shares, compared to its average volume of 6,128,725. The stock has a market cap of $182.51 billion, a price-to-earnings ratio of 29.77, a P/E/G ratio of 1.69 and a beta of 1.17. 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 $95.92 and a twelve month high of $194.80. The firm has a fifty day moving average of $181.46 and a 200-day moving average of $172.50.

General Electric (NYSE:GE - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analysts' expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 earnings per share. Research analysts forecast that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.66%. General Electric's payout ratio is currently 19.68%.

General Electric Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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