Sequoia Financial Advisors LLC Boosts Position in General Electric (NYSE:GE)

Sequoia Financial Advisors LLC increased its stake in General Electric (NYSE:GE) by 33.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 52,347 shares of the conglomerate’s stock after acquiring an additional 13,070 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in General Electric were worth $9,872,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Tsfg LLC grew its holdings in shares of General Electric by 12.8% in the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after purchasing an additional 55 shares during the period. Macroview Investment Management LLC grew its holdings in shares of General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 58 shares during the period. Strategic Advisors LLC grew its holdings in shares of General Electric by 2.6% in the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after purchasing an additional 58 shares during the period. Allegheny Financial Group LTD grew its holdings in shares of General Electric by 1.4% in the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after purchasing an additional 61 shares during the period. Finally, New England Research & Management Inc. grew its holdings in shares of General Electric by 2.2% in the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after purchasing an additional 63 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 9.1 %

GE stock opened at $176.59 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a twelve month low of $84.58 and a twelve month high of $194.80. The company’s 50 day moving average is $179.24 and its two-hundred day moving average is $168.05. The stock has a market cap of $193.30 billion, a P/E ratio of 57.90, a PEG ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Research analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s payout ratio is currently 36.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein upped their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Royal Bank of Canada increased their target price on shares of General Electric from $190.00 to $210.00 in a research note on Tuesday. Jefferies Financial Group increased their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. UBS Group increased their target price on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.53.

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.