Morse Asset Management Inc Purchases 4,320 Shares of General Electric (NYSE:GE)

Morse Asset Management Inc lifted its holdings in General Electric (NYSE:GE - Free Report) by 30.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,616 shares of the conglomerate's stock after buying an additional 4,320 shares during the quarter. Morse Asset Management Inc's holdings in General Electric were worth $3,511,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Catalyst Capital Advisors LLC boosted its holdings in shares of General Electric by 117.7% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate's stock valued at $51,000 after acquiring an additional 146 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate's stock valued at $96,016,000 after acquiring an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC purchased a new stake in shares of General Electric during the 2nd quarter valued at about $1,569,000. State Street Corp boosted its holdings in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the last quarter. Finally, Soltis Investment Advisors LLC boosted its holdings in shares of General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate's stock valued at $5,318,000 after acquiring an additional 20,575 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Electric

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 on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares of the company's stock, valued at approximately $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. Corporate insiders own 0.66% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GE shares. Wells Fargo & Company increased their price objective on shares of General Electric from $210.00 to $225.00 and gave the stock an "overweight" rating in a research note on Wednesday. Royal Bank of Canada lowered their price objective 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a "buy" rating in a research note 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 note on Thursday, October 10th. Finally, Melius Research increased their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $201.93.

General Electric Trading Down 2.4 %

NYSE GE traded down $4.01 on Thursday, hitting $164.63. 5,117,720 shares of the stock were exchanged, compared to its average volume of 6,121,203. 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 fifty day moving average price of $181.11 and a two-hundred day moving average price of $172.48. The firm has a market capitalization of $178.18 billion, a P/E ratio of 29.33, a P/E/G ratio of 1.69 and a beta of 1.17. General Electric has a 52-week low of $95.92 and a 52-week high of $194.80.

General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 earnings per share. Research analysts forecast that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. General Electric's dividend payout ratio (DPR) 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.