Aviso Wealth Management Purchases 1,390 Shares of General Electric (NYSE:GE)

Aviso Wealth Management grew its position in General Electric (NYSE:GE) by 96.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,825 shares of the conglomerate’s stock after acquiring an additional 1,390 shares during the quarter. Aviso Wealth Management’s holdings in General Electric were worth $533,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GE. Newport Trust Company LLC bought a new stake in shares of General Electric in the 2nd quarter worth approximately $2,613,332,000. Capital World Investors lifted its position in shares of General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares during the period. Capital International Investors lifted its position in shares of General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after buying an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of General Electric by 221.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after buying an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of General Electric during the 2nd quarter worth approximately $580,200,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.8 %

NYSE GE opened at $176.93 on Monday. The stock has a fifty day moving average of $182.29 and a 200-day moving average of $170.71. The stock has a market capitalization of $191.49 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. General Electric has a 52 week low of $93.05 and a 52 week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last released its 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 during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.82 EPS. On average, equities research analysts forecast that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders 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 dividend yield of 0.63%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Insider Activity

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GE shares. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Sanford C. Bernstein raised their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. UBS Group raised their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Bank of America raised their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Melius Research lifted their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Company 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.