Axxcess Wealth Management LLC Raises Stock Holdings in General Electric (NYSE:GE)

Axxcess Wealth Management LLC boosted its stake in General Electric (NYSE:GE) by 41.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,443 shares of the conglomerate’s stock after purchasing an additional 3,671 shares during the quarter. Axxcess Wealth Management LLC’s holdings in General Electric were worth $2,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Toth Financial Advisory Corp bought a new position in General Electric during the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric during the 3rd quarter valued at $27,000. Studio Investment Management LLC raised its position in 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 purchasing an additional 78 shares during the period. Costello Asset Management INC lifted its stake in General Electric by 92.0% in the third quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 80 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new stake in General Electric during the second quarter valued at about $31,000. 74.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of a number of recent research reports. Citigroup boosted their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Bank of America increased their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada dropped their price target 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. Finally, Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Trading Down 0.1 %

NYSE GE opened at $184.62 on Tuesday. General Electric has a 12 month low of $91.77 and a 12 month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock’s fifty day moving average price is $180.78 and its 200-day moving average price is $170.03. The stock has a market cap of $199.81 billion, a P/E ratio of 32.42, a P/E/G ratio of 1.82 and a beta of 1.19.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the previous year, the company earned $0.82 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts forecast that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 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.