General Electric (NYSE:GE) Stake Cut by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. decreased its holdings in shares of General Electric (NYSE:GE) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,622 shares of the conglomerate’s stock after selling 1,829 shares during the period. Atria Wealth Solutions Inc.’s holdings in General Electric were worth $4,577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Northstar Group Inc. boosted its position in General Electric by 2.9% during the first quarter. Northstar Group Inc. now owns 3,673 shares of the conglomerate’s stock valued at $351,000 after purchasing an additional 104 shares during the last quarter. WMS Partners LLC grew its stake in shares of General Electric by 1.3% in the first quarter. WMS Partners LLC now owns 8,500 shares of the conglomerate’s stock valued at $813,000 after buying an additional 109 shares in the last quarter. ZWJ Investment Counsel Inc. increased its holdings in General Electric by 0.3% during the first quarter. ZWJ Investment Counsel Inc. now owns 43,634 shares of the conglomerate’s stock worth $4,171,000 after buying an additional 110 shares during the last quarter. HHM Wealth Advisors LLC increased its holdings in General Electric by 2.9% during the first quarter. HHM Wealth Advisors LLC now owns 3,972 shares of the conglomerate’s stock worth $380,000 after buying an additional 113 shares during the last quarter. Finally, Sandy Spring Bank lifted its stake in General Electric by 2.9% in the first quarter. Sandy Spring Bank now owns 4,044 shares of the conglomerate’s stock valued at $387,000 after acquiring an additional 113 shares during the last quarter. 74.83% of the stock is owned by institutional investors and hedge funds.

General Electric Trading Down 1.2 %

Shares of NYSE:GE opened at $113.60 on Thursday. The business’s 50 day simple moving average is $112.57 and its 200 day simple moving average is $103.41. General Electric has a 1 year low of $48.06 and a 1 year high of $117.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.90. The company has a market capitalization of $123.64 billion, a P/E ratio of 13.48, a P/E/G ratio of 6.89 and a beta of 1.28.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 25th. The conglomerate reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.22. The firm had revenue of $15.85 billion during the quarter, compared to the consensus estimate of $14.76 billion. General Electric had a return on equity of 9.30% and a net margin of 13.32%. The company’s revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 EPS. On average, research analysts anticipate that General Electric will post 2.32 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Tuesday, September 26th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Monday, September 25th. General Electric’s payout ratio is presently 3.80%.

Insider Transactions at General Electric

In other news, major shareholder General Electric Pension Trust acquired 35,160 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were acquired at an average cost of $995.44 per share, with a total value of $34,999,670.40. Following the completion of the purchase, the insider now directly owns 175,160 shares of the company’s stock, valued at approximately $174,361,270.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder General Electric Pension Trust purchased 35,160 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were bought at an average cost of $995.44 per share, with a total value of $34,999,670.40. Following the acquisition, the insider now owns 175,160 shares of the company’s stock, valued at approximately $174,361,270.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 112,614 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $115.20, for a total transaction of $12,973,132.80. Following the transaction, the senior vice president now owns 57,923 shares of the company’s stock, valued at $6,672,729.60. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on GE. Citigroup boosted their price objective on shares of General Electric from $126.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. StockNews.com assumed coverage on General Electric in a research note on Thursday, August 17th. They set a “buy” rating for the company. Bank of America lifted their price objective on shares of General Electric from $108.00 to $120.00 in a research report on Thursday, July 6th. Wells Fargo & Company lifted their target price on shares of General Electric from $100.00 to $105.00 in a report on Monday, July 10th. Finally, Morgan Stanley increased their price target on shares of General Electric from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, August 10th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus target price of $120.00.

General Electric Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.