B. Riley Wealth Advisors Inc. Trims Holdings in General Electric (NYSE:GE)

B. Riley Wealth Advisors Inc. trimmed its position in General Electric (NYSE:GE) by 11.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,883 shares of the conglomerate’s stock after selling 2,420 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in General Electric were worth $2,284,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. purchased a new position in shares of General Electric in the fourth quarter worth about $40,000. MONECO Advisors LLC raised its stake in shares of General Electric by 12.3% in the fourth quarter. MONECO Advisors LLC now owns 2,089 shares of the conglomerate’s stock worth $267,000 after purchasing an additional 229 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in General Electric during the fourth quarter valued at approximately $325,000. Spartan Planning & Wealth Management raised its position in General Electric by 334.9% during the fourth quarter. Spartan Planning & Wealth Management now owns 1,570 shares of the conglomerate’s stock valued at $200,000 after acquiring an additional 1,209 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after acquiring an additional 550,996 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Citigroup lifted their price target on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Wells Fargo & Company lifted their price target on General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Bank of America lifted their price target on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average target price of $177.27.

General Electric Stock Performance

Shares of NYSE:GE opened at $164.97 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The business’s 50 day moving average price is $161.18 and its 200-day moving average price is $149.27. The firm has a market capitalization of $180.58 billion, a PE ratio of 54.09, a P/E/G ratio of 1.66 and a beta of 1.23. General Electric has a 1 year low of $82.11 and a 1 year high of $170.80.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. As a group, equities research analysts expect that General Electric will post 3.99 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. General Electric’s payout ratio is currently 36.72%.

Insider Transactions at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.

About General Electric

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.