General Electric (NYSE:GE) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its stake in General Electric (NYSE:GE) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,462 shares of the conglomerate’s stock after selling 841 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in General Electric were worth $3,094,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in GE. Studio Investment Management LLC increased its holdings in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the period. MFA Wealth Advisors LLC bought a new stake in shares of General Electric during the second quarter valued at approximately $31,000. Kapitalo Investimentos Ltda acquired a new position in shares of General Electric during the fourth quarter worth approximately $32,000. Financial Connections Group Inc. bought a new position in General Electric in the 2nd quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in General Electric in the 1st quarter valued at approximately $34,000. 74.77% of the stock is owned by institutional investors.

General Electric Price Performance

Shares of NYSE:GE opened at $186.30 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The company has a market capitalization of $203.93 billion, a PE ratio of 61.08, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. The stock has a fifty day moving average of $172.31 and a 200-day moving average of $169.45. General Electric has a one year low of $84.42 and a one year high of $190.88.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, equities analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Analyst Ratings Changes

A number of research analysts have issued reports on GE shares. UBS Group boosted their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Jefferies Financial Group boosted their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada increased their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.36.

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.