Bay Colony Advisory Group Inc d b a Bay Colony Advisors Sells 401 Shares of General Electric (NYSE:GE)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors trimmed its stake in shares of General Electric (NYSE:GE) by 1.9% during the third quarter, HoldingsChannel.com reports. The firm owned 20,772 shares of the conglomerate’s stock after selling 401 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in General Electric were worth $3,917,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Toth Financial Advisory Corp bought a new position in General Electric in the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new position in shares of General Electric in the 3rd quarter worth about $27,000. Studio Investment Management LLC boosted 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 purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of General Electric in the 2nd quarter worth about $31,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of General Electric in the 1st quarter worth about $34,000. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GE shares. UBS Group upped their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada cut their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Sanford C. Bernstein upped their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Bank of America increased their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Trading Down 1.3 %

GE traded down $2.27 during midday trading on Monday, reaching $176.83. 635,435 shares of the company’s stock traded hands, compared to its average volume of 6,339,470. The firm has a fifty day moving average of $179.90 and a two-hundred day moving average of $168.56. The stock has a market capitalization of $191.74 billion, a price-to-earnings ratio of 31.48, a P/E/G ratio of 1.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a 52 week low of $84.66 and a 52 week high of $194.80.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the company posted $0.82 EPS. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities analysts anticipate that General Electric will post 4.2 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. Stockholders of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio 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.