Anchor Investment Management LLC Purchases 3,518 Shares of General Electric (NYSE:GE)

Anchor Investment Management LLC increased its stake in General Electric (NYSE:GE - Free Report) by 45.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,320 shares of the conglomerate's stock after acquiring an additional 3,518 shares during the period. Anchor Investment Management LLC's holdings in General Electric were worth $2,135,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GE. State Street Corp increased its position in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the period. Geode Capital Management LLC boosted its holdings in shares of General Electric by 0.7% during the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock worth $4,244,676,000 after purchasing an additional 156,272 shares during the period. Newport Trust Company LLC bought a new stake in shares of General Electric in the second quarter worth about $2,613,332,000. Legal & General Group Plc increased its holdings in General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate's stock valued at $1,336,257,000 after purchasing an additional 459,201 shares during the period. Finally, Jennison Associates LLC raised its position in General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate's stock valued at $1,465,598,000 after purchasing an additional 3,719,894 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. UBS Group lifted their price target on shares of General Electric from $223.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Melius Research upped their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada reduced their price target on shares of General Electric from $210.00 to $200.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $201.93.

General Electric Stock Up 0.7 %

NYSE:GE traded up $1.15 during trading hours on Friday, reaching $165.98. 4,956,576 shares of the company traded hands, compared to its average volume of 6,129,265. 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 business's 50-day moving average price is $180.72 and its two-hundred day moving average price is $172.42. General Electric has a 1 year low of $95.92 and a 1 year high of $194.80. The stock has a market capitalization of $179.64 billion, a P/E ratio of 29.17, a P/E/G ratio of 1.66 and a beta of 1.17.

General Electric (NYSE:GE - Get Free Report) last posted its quarterly 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 return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the previous year, the firm earned $0.82 EPS. General Electric's quarterly revenue was up 5.8% compared to the same quarter last year. Analysts predict that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. General Electric's payout ratio is 19.68%.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the business'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 transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares of the company's stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company's stock.

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.