Mizuho Securities USA LLC Sells 54,787 Shares of General Electric (NYSE:GE)

Mizuho Securities USA LLC decreased its position in General Electric (NYSE:GE - Free Report) by 64.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,609 shares of the conglomerate's stock after selling 54,787 shares during the quarter. Mizuho Securities USA LLC's holdings in General Electric were worth $5,584,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Studio Investment Management LLC increased its position in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate's stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Toth Financial Advisory Corp bought a new position in General Electric during the third quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in General Electric during the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric during the third quarter valued at approximately $27,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of General Electric in the second quarter worth approximately $31,000. Institutional investors own 74.77% of the company's stock.

Insider Activity

In other General Electric 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 in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GE. StockNews.com cut General Electric from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Barclays raised their target price on General Electric from $175.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. Melius Research lifted their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company lifted their price objective on General Electric from $205.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Finally, UBS Group lifted their price target on General Electric from $223.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, General Electric has a consensus rating of "Moderate Buy" and a consensus target price of $200.93.

General Electric Stock Performance

General Electric stock traded down $1.47 during trading hours on Friday, hitting $176.93. The stock had a trading volume of 5,302,109 shares, compared to its average volume of 5,219,509. The company has a 50-day moving average of $182.29 and a two-hundred day moving average of $170.63. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a market cap of $191.49 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. General Electric has a fifty-two week low of $93.05 and a fifty-two week high of $194.80.

General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 EPS. On average, equities research analysts anticipate that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid 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 19.68%.

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.