Intech Investment Management LLC Decreases Stake in General Electric (NYSE:GE)

Intech Investment Management LLC lowered its stake in General Electric (NYSE:GE - Free Report) by 22.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 171,532 shares of the conglomerate's stock after selling 48,714 shares during the period. Intech Investment Management LLC's holdings in General Electric were worth $32,348,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GE. Studio Investment Management LLC raised its holdings in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate's stock worth $25,000 after buying an additional 78 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in shares of General Electric during the third quarter worth $25,000. Valley Wealth Managers Inc. purchased a new position in shares of General Electric during the third quarter worth $25,000. O Brien Wealth Partners LLC purchased a new position in shares of General Electric during the third quarter worth $27,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of General Electric during the third quarter worth $28,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insider Buying and Selling at General Electric

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

Analyst Ratings Changes

Several brokerages recently issued reports on GE. StockNews.com cut shares of General Electric from a "buy" rating to a "hold" rating in a report on Monday, July 29th. Melius Research raised their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Royal Bank of Canada cut their price objective on shares of General Electric from $210.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. Citigroup lifted their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Finally, Bank of America lifted their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $200.93.

General Electric Stock Performance

GE opened at $177.98 on Thursday. The firm has a market capitalization of $192.63 billion, a PE ratio of 31.28, a PEG ratio of 1.75 and a beta of 1.19. General Electric has a twelve month low of $94.54 and a twelve month high of $194.80. The firm's 50-day moving average price is $182.98 and its 200 day moving average price is $170.96. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

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 for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 earnings per share. As a group, sell-side analysts expect that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.63%. General Electric's payout ratio is 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.

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