ING Groep NV Decreases Position in General Electric (NYSE:GE)

ING Groep NV decreased its position in General Electric (NYSE:GE - Free Report) by 58.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 252,428 shares of the conglomerate's stock after selling 354,911 shares during the period. ING Groep NV's holdings in General Electric were worth $47,603,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. Edmond DE Rothschild Holding S.A. increased its stake in General Electric by 25.1% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 469 shares of the conglomerate's stock valued at $82,000 after buying an additional 94 shares during the last quarter. TBH Global Asset Management LLC grew its position in shares of General Electric by 17.0% during the 1st quarter. TBH Global Asset Management LLC now owns 2,307 shares of the conglomerate's stock valued at $405,000 after acquiring an additional 336 shares during the period. Blair William & Co. IL grew its position in shares of General Electric by 5.8% during the 1st quarter. Blair William & Co. IL now owns 174,301 shares of the conglomerate's stock valued at $30,595,000 after acquiring an additional 9,587 shares during the period. Orion Portfolio Solutions LLC grew its position in shares of General Electric by 8.8% during the 1st quarter. Orion Portfolio Solutions LLC now owns 38,147 shares of the conglomerate's stock valued at $6,696,000 after acquiring an additional 3,095 shares during the period. Finally, Leo Wealth LLC bought a new position in shares of General Electric during the 1st quarter valued at approximately $206,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GE. UBS Group increased their target price on shares of General Electric from $223.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reduced their target price 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. Citigroup increased their target price on shares of General Electric from $198.00 to $216.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Melius Research raised their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company raised their price objective on shares of General Electric from $205.00 to $210.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $200.93.

Insider Activity

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.66% of the company's stock.

General Electric Price Performance

NYSE:GE traded down $5.18 during trading hours on Thursday, hitting $178.38. The stock had a trading volume of 5,083,506 shares, compared to its average volume of 6,247,913. The company has a 50 day simple moving average of $181.69 and a two-hundred day simple moving average of $170.43. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a one year low of $92.58 and a one year high of $194.80. The firm has a market capitalization of $193.06 billion, a price-to-earnings ratio of 32.06, a P/E/G ratio of 1.80 and a beta of 1.19.

General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analysts' expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $0.82 EPS. Research analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric's dividend payout ratio (DPR) is currently 19.68%.

General Electric Company 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.