General Electric (NYSE:GE) Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC boosted its stake in General Electric (NYSE:GE - Free Report) by 81.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,504 shares of the conglomerate's stock after buying an additional 6,494 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in General Electric were worth $2,735,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GE. Wrapmanager Inc. increased its holdings in shares of General Electric by 15.2% in the third quarter. Wrapmanager Inc. now owns 8,612 shares of the conglomerate's stock valued at $1,624,000 after purchasing an additional 1,136 shares during the last quarter. Prospera Financial Services Inc increased its position in shares of General Electric by 10.4% during the 3rd quarter. Prospera Financial Services Inc now owns 27,571 shares of the conglomerate's stock worth $5,201,000 after purchasing an additional 2,605 shares during the last quarter. OneAscent Financial Services LLC acquired a new position in General Electric in the third quarter valued at about $625,000. Napa Wealth Management acquired a new stake in shares of General Electric during the third quarter valued at about $1,180,000. Finally, Drive Wealth Management LLC raised its stake in shares of General Electric by 6.9% in the 3rd quarter. Drive Wealth Management LLC now owns 2,543 shares of the conglomerate's stock valued at $480,000 after acquiring an additional 165 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the company's stock in a transaction dated 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 transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.66% of the company's stock.

General Electric Stock Down 0.1 %

NYSE GE traded down $0.18 during trading hours on Tuesday, reaching $177.34. 1,620,727 shares of the company traded hands, compared to its average volume of 6,207,815. The company has a 50 day moving average of $182.54 and a two-hundred day moving average of $170.81. The stock has a market capitalization of $191.93 billion, a PE ratio of 30.96, a PEG ratio of 1.75 and a beta of 1.19. General Electric has a 12 month low of $94.54 and a 12 month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 earnings per share. As a group, equities analysts expect that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric's dividend payout ratio (DPR) is presently 19.68%.

Analyst Upgrades and Downgrades

GE has been the topic of a number of research reports. Bank of America increased their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Barclays increased their target price on shares of General Electric from $175.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, July 30th. Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. UBS Group upped their target price on shares of General Electric from $223.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada decreased their price target on General Electric from $210.00 to $200.00 and set an "outperform" rating for the company 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 company. Based on data from MarketBeat.com, General Electric presently has an average rating of "Moderate Buy" and a consensus target price of $200.93.

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.