General Electric (NYSE:GE) Stock Holdings Lowered by Clearstead Advisors LLC

Clearstead Advisors LLC reduced its holdings in General Electric (NYSE:GE – Get Rating) by 9.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,642 shares of the conglomerate’s stock after selling 920 shares during the quarter. Clearstead Advisors LLC’s holdings in General Electric were worth $535,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Coston McIsaac & Partners acquired a new stake in shares of General Electric during the second quarter valued at approximately $25,000. Standard Family Office LLC acquired a new stake in shares of General Electric during the third quarter valued at approximately $29,000. RE Dickinson Investment Advisors LLC raised its holdings in shares of General Electric by 37.5% during the third quarter. RE Dickinson Investment Advisors LLC now owns 477 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 130 shares during the period. Global Wealth Management Investment Advisory Inc. raised its holdings in shares of General Electric by 808.1% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 299 shares during the period. Finally, Avion Wealth raised its holdings in shares of General Electric by 794.8% during the second quarter. Avion Wealth now owns 519 shares of the conglomerate’s stock valued at $33,000 after acquiring an additional 461 shares during the period. 70.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. UBS Group dropped their price objective on shares of General Electric from $98.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, January 12th. Argus upped their price objective on shares of General Electric from $85.00 to $90.00 in a research note on Tuesday, January 31st. Oppenheimer upped their price objective on shares of General Electric from $82.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, March 8th. StockNews.com assumed coverage on shares of General Electric in a research note on Friday, March 10th. They issued a “buy” rating on the stock. Finally, Morgan Stanley decreased their target price on shares of General Electric from $88.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday, January 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.86.

General Electric Price Performance

NYSE GE opened at $91.17 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76. The company has a fifty day simple moving average of $81.95 and a 200 day simple moving average of $78.46. The company has a market cap of $99.31 billion, a P/E ratio of -3,039.00, a P/E/G ratio of 6.66 and a beta of 1.25. General Electric has a 1 year low of $46.55 and a 1 year high of $94.94.

General Electric (NYSE:GE – Get Rating) last posted its quarterly earnings data on Tuesday, January 24th. The conglomerate reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.13. The business had revenue of $21.79 billion during the quarter, compared to the consensus estimate of $22.11 billion. General Electric had a net margin of 0.29% and a return on equity of 8.47%. General Electric’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 EPS. On average, sell-side analysts predict that General Electric will post 1.95 EPS for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Tuesday, March 7th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.35%. The ex-dividend date is Tuesday, March 6th. General Electric’s payout ratio is currently -1,066.67%.

General Electric Profile

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General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.