Aberdeen Wealth Management LLC Grows Position in General Electric (NYSE:GE)

Aberdeen Wealth Management LLC grew its stake in General Electric (NYSE:GE) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,811 shares of the conglomerate’s stock after acquiring an additional 94 shares during the quarter. Aberdeen Wealth Management LLC’s holdings in General Electric were worth $530,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Toth Financial Advisory Corp purchased a new position in General Electric in the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric in the third quarter valued at approximately $27,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric during the third quarter valued at approximately $28,000. Finally, Studio Investment Management LLC boosted its position in General Electric by 97.5% during 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 last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Up 0.4 %

General Electric stock opened at $177.58 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. General Electric has a 1-year low of $94.54 and a 1-year high of $194.80. The firm’s fifty day simple moving average is $182.54 and its 200-day simple moving average is $170.81. The company has a market capitalization of $192.19 billion, a P/E ratio of 31.21, a P/E/G ratio of 1.75 and a beta of 1.19.

General Electric (NYSE:GE) last announced 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. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 earnings per share. Sell-side analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.63%. General Electric’s dividend payout ratio is 19.68%.

Analyst Upgrades and Downgrades

GE has been the topic of several analyst reports. Bank of America raised their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada dropped their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Melius Research boosted their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by company insiders.

General Electric 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.