Octavia Wealth Advisors LLC Sells 229 Shares of General Electric (NYSE:GE)

Octavia Wealth Advisors LLC trimmed its stake in shares of General Electric (NYSE:GE) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,848 shares of the conglomerate’s stock after selling 229 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in General Electric were worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Prime Capital Investment Advisors LLC grew its position in shares of General Electric by 29.3% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock worth $3,613,000 after buying an additional 6,419 shares during the last quarter. Fifth Third Bancorp grew its position in shares of General Electric by 12.5% in the 4th quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock worth $33,335,000 after buying an additional 28,985 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of General Electric by 10.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock worth $12,087,000 after buying an additional 10,722 shares during the last quarter. Hoey Investments Inc. grew its position in shares of General Electric by 51,152.3% in the 3rd quarter. Hoey Investments Inc. now owns 22,551 shares of the conglomerate’s stock worth $2,493,000 after buying an additional 22,507 shares during the last quarter. Finally, Qsemble Capital Management LP bought a new stake in shares of General Electric in the 3rd quarter worth approximately $1,846,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Up 2.0 %

Shares of NYSE:GE opened at $156.76 on Wednesday. The stock has a fifty day simple moving average of $158.53 and a two-hundred day simple moving average of $133.81. The stock has a market capitalization of $171.38 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 3.01 and a beta of 1.29. General Electric has a 12-month low of $76.38 and a 12-month high of $158.68. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $19.42 billion during the quarter, compared to analysts’ expectations of $17.27 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 earnings per share. On average, research analysts anticipate that General Electric will post 3.78 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be paid a $0.28 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.71%. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is currently 13.38%.

Insider Transactions at General Electric

In other news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

GE has been the topic of a number of recent analyst reports. Vertical Research initiated coverage on General Electric in a research report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective on the stock. Barclays lowered their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. The Goldman Sachs Group assumed coverage on General Electric in a research note on Tuesday, April 9th. They issued a “buy” rating and a $190.00 target price for the company. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Finally, TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and raised their target price for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $160.07.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.