Nations Financial Group Inc. IA ADV Increases Stock Holdings in General Electric (NYSE:GE)

Nations Financial Group Inc. IA ADV lifted its stake in shares of General Electric (NYSE:GE) by 14.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,305 shares of the conglomerate’s stock after purchasing an additional 287 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in General Electric were worth $435,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Toth Financial Advisory Corp purchased a new stake in shares of General Electric in the third quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric in the 3rd quarter valued at approximately $27,000. Studio Investment Management LLC boosted its holdings in General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. Costello Asset Management INC boosted its holdings in General Electric by 92.0% in the 3rd quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 80 shares in the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in shares of General Electric during the 2nd quarter worth approximately $31,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Up 0.5 %

Shares of NYSE:GE opened at $183.54 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $198.64 billion, a P/E ratio of 32.26, a P/E/G ratio of 1.80 and a beta of 1.19. General Electric has a 52-week low of $92.46 and a 52-week high of $194.80. The stock’s fifty day simple moving average is $181.35 and its 200-day simple moving average is $170.33.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $0.82 EPS. As a group, equities research analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.61%. General Electric’s payout ratio is currently 19.68%.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was 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 owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GE shares. Barclays lifted 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. Wells Fargo & Company upped their price target on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Melius Research raised their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Citigroup lifted their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average price target of $200.93.

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.