Geode Capital Management LLC raised its stake in shares of General Electric (NYSE:GE - Free Report) by 0.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 22,587,961 shares of the conglomerate's stock after acquiring an additional 156,272 shares during the period. Geode Capital Management LLC owned approximately 2.09% of General Electric worth $4,244,676,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Lantz Financial LLC increased its position in shares of General Electric by 1.9% during the 2nd quarter. Lantz Financial LLC now owns 3,718 shares of the conglomerate's stock valued at $591,000 after purchasing an additional 70 shares during the last quarter. Cooper Financial Group raised its position in General Electric by 8.8% in the second quarter. Cooper Financial Group now owns 1,454 shares of the conglomerate's stock worth $231,000 after acquiring an additional 117 shares during the period. Diversified Trust Co boosted its stake in shares of General Electric by 5.0% during the 2nd quarter. Diversified Trust Co now owns 20,761 shares of the conglomerate's stock worth $3,300,000 after acquiring an additional 997 shares during the last quarter. NorthCrest Asset Manangement LLC purchased a new position in shares of General Electric during the 2nd quarter worth $200,000. Finally, Great Valley Advisor Group Inc. grew its position in shares of General Electric by 2.6% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,707 shares of the conglomerate's stock valued at $1,702,000 after acquiring an additional 275 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. Melius Research raised their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. UBS Group raised their price objective on General Electric from $223.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Bank of America boosted their price objective on General Electric from $180.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Citigroup raised their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada dropped their price target on shares of General Electric from $210.00 to $200.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $200.93.
Read Our Latest Analysis on General Electric
General Electric Price Performance
NYSE:GE traded down $0.03 during trading hours on Tuesday, reaching $171.29. The stock had a trading volume of 4,975,444 shares, compared to its average volume of 6,121,849. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a market capitalization of $185.39 billion, a PE ratio of 30.10, a PEG ratio of 1.73 and a beta of 1.17. General Electric has a 52 week low of $95.71 and a 52 week high of $194.80. The company has a 50 day moving average price of $181.76 and a two-hundred day moving average price of $172.48.
General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. General Electric's revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that General Electric will post 4.24 earnings per share for the current fiscal year.
General Electric Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric's dividend payout ratio is currently 19.68%.
Insiders Place Their Bets
In other news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 sale, the senior vice president now directly owns 13,289 shares of the company's stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.
About General Electric
(
Free Report)
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.
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