Cravens & Co Advisors LLC Has $905,000 Stake in General Electric (NYSE:GE)

Cravens & Co Advisors LLC lowered its stake in General Electric (NYSE:GE) by 33.1% in the third quarter, HoldingsChannel.com reports. The firm owned 4,801 shares of the conglomerate’s stock after selling 2,374 shares during the quarter. Cravens & Co Advisors LLC’s holdings in General Electric were worth $905,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Silvercrest Asset Management Group LLC increased its stake in shares of General Electric by 0.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 28,358 shares of the conglomerate’s stock valued at $4,978,000 after buying an additional 102 shares during the period. Janus Henderson Group PLC boosted its holdings in General Electric by 38.7% in the first quarter. Janus Henderson Group PLC now owns 149,769 shares of the conglomerate’s stock valued at $26,280,000 after acquiring an additional 41,795 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in General Electric by 13.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 20,303 shares of the conglomerate’s stock valued at $3,564,000 after acquiring an additional 2,420 shares during the last quarter. Comerica Bank increased its position in General Electric by 1.0% in the first quarter. Comerica Bank now owns 215,115 shares of the conglomerate’s stock worth $37,759,000 after purchasing an additional 2,052 shares during the period. Finally, Beacon Capital Management LLC raised its holdings in General Electric by 32.8% during the 1st quarter. Beacon Capital Management LLC now owns 498 shares of the conglomerate’s stock worth $87,000 after purchasing an additional 123 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GE has been the topic of several recent research reports. Melius Research raised their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. UBS Group raised their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada dropped their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Citigroup lifted their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company raised their target price on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Price Performance

Shares of NYSE GE opened at $184.60 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The business has a 50-day moving average of $183.29 and a 200-day moving average of $171.37. The stock has a market capitalization of $199.79 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 1.77 and a beta of 1.19. General Electric has a fifty-two week low of $94.54 and a fifty-two week high of $194.80.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the previous year, the firm earned $0.82 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts predict that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors 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 dividend payout ratio (DPR) is currently 19.68%.

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.