Andrew Hill Investment Advisors Inc. Lowers Stake in General Electric (NYSE:GE)

Andrew Hill Investment Advisors Inc. lowered its stake in shares of General Electric (NYSE:GE) by 24.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,447 shares of the conglomerate’s stock after selling 4,976 shares during the period. General Electric accounts for about 2.0% of Andrew Hill Investment Advisors Inc.’s investment portfolio, making the stock its 26th biggest holding. Andrew Hill Investment Advisors Inc.’s holdings in General Electric were worth $2,456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Round Rock Advisors LLC acquired a new position in shares of General Electric in the 4th quarter valued at $239,000. Sapient Capital LLC purchased a new stake in General Electric in the fourth quarter valued at $331,000. Wealth Effects LLC purchased a new stake in General Electric in the fourth quarter valued at $267,000. Perigon Wealth Management LLC boosted its holdings in General Electric by 2.2% in the fourth quarter. Perigon Wealth Management LLC now owns 11,285 shares of the conglomerate’s stock valued at $1,440,000 after purchasing an additional 246 shares during the last quarter. Finally, Meitav Investment House Ltd. purchased a new stake in General Electric in the fourth quarter valued at $234,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GE has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Barclays raised their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Bank of America increased their price objective on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $190.38.

General Electric Trading Down 0.2 %

General Electric stock traded down $0.26 during trading on Monday, hitting $166.87. The company had a trading volume of 3,173,115 shares, compared to its average volume of 7,019,531. General Electric has a 1-year low of $84.42 and a 1-year high of $177.20. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company’s 50 day simple moving average is $162.56 and its 200-day simple moving average is $159.21. The stock has a market cap of $182.66 billion, a price-to-earnings ratio of 54.54, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21.

General Electric (NYSE:GE) last issued its quarterly 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. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter last year, the company posted $0.68 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. As a group, analysts expect that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.67%. General Electric’s dividend payout ratio is currently 36.72%.

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.