Mizuho Markets Americas LLC Has $8.12 Million Stake in General Electric (NYSE:GE)

Mizuho Markets Americas LLC cut its stake in General Electric (NYSE:GE - Free Report) by 30.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,069 shares of the conglomerate's stock after selling 18,932 shares during the period. Mizuho Markets Americas LLC's holdings in General Electric were worth $8,122,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Newport Trust Company LLC bought a new position in General Electric in the second quarter worth about $2,613,332,000. Capital World Investors increased its position in shares of General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate's stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares in the last quarter. Capital International Investors boosted its holdings in General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate's stock worth $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate's stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in General Electric in the second quarter worth approximately $580,200,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GE shares. Royal Bank of Canada dropped 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 note on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on shares of General Electric from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $212.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Citigroup increased their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, StockNews.com lowered shares of General Electric from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. 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, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $200.93.

General Electric Price Performance

General Electric stock traded down $1.47 during midday trading on Friday, hitting $176.93. The company's stock had a trading volume of 5,302,109 shares, compared to its average volume of 6,243,640. The stock's 50-day moving average price is $182.29 and its 200-day moving average price is $170.57. The company has a market capitalization of $191.49 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19. General Electric has a 12 month low of $93.05 and a 12 month high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion during 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%. The firm's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 EPS. Analysts anticipate that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid 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 of this dividend was Thursday, September 26th. General Electric's dividend payout ratio (DPR) is presently 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.