B. Riley Wealth Advisors Inc. Raises Stock Holdings in General Electric (NYSE:GE)

B. Riley Wealth Advisors Inc. raised its stake in shares of General Electric (NYSE:GE) by 13.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,303 shares of the conglomerate’s stock after purchasing an additional 2,420 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in General Electric were worth $3,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Choate Investment Advisors lifted its position in shares of General Electric by 0.4% during the first quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock worth $2,808,000 after purchasing an additional 65 shares during the last quarter. Walker Asset Management LLC boosted its position in General Electric by 1.7% in the 1st quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock valued at $722,000 after buying an additional 70 shares during the period. BKM Wealth Management LLC increased its position in shares of General Electric by 2.6% during the first quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock worth $495,000 after acquiring an additional 72 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in shares of General Electric by 1.9% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,777 shares of the conglomerate’s stock valued at $663,000 after acquiring an additional 72 shares in the last quarter. Finally, Great Valley Advisor Group Inc. boosted its holdings in shares of General Electric by 1.7% in the fourth quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock valued at $550,000 after purchasing an additional 74 shares during the period. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on GE shares. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and increased their price objective for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price objective on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Jefferies Financial Group lifted their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Argus upped their price objective on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $185.71.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the transaction, the senior vice president now owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.66% of the company’s stock.

General Electric Stock Performance

GE opened at $170.10 on Thursday. The firm has a 50 day moving average of $162.88 and a two-hundred day moving average of $157.32. The firm has a market capitalization of $184.44 billion, a PE ratio of 55.77, a P/E/G ratio of 1.68 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12-month low of $84.42 and a 12-month high of $177.20.

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

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Thursday, July 11th. General Electric’s payout ratio is presently 36.72%.

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.