Neo Ivy Capital Management Makes New Investment in General Electric (NYSE:GE)

Neo Ivy Capital Management purchased a new position in shares of General Electric (NYSE:GE - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,986 shares of the conglomerate's stock, valued at approximately $1,506,000.

A number of other hedge funds also recently modified their holdings of GE. Coldstream Capital Management Inc. raised its position in General Electric by 14.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 20,580 shares of the conglomerate's stock valued at $3,873,000 after buying an additional 2,642 shares during the last quarter. RB Capital Management LLC grew its stake in General Electric by 14.6% in the third quarter. RB Capital Management LLC now owns 1,824 shares of the conglomerate's stock valued at $344,000 after purchasing an additional 232 shares in the last quarter. Geode Capital Management LLC grew its stake in General Electric by 0.7% in the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock valued at $4,244,676,000 after purchasing an additional 156,272 shares in the last quarter. Brophy Wealth Management LLC bought a new position in General Electric in the third quarter valued at approximately $368,000. Finally, Conway Capital Management Inc. bought a new position in General Electric in the third quarter valued at approximately $316,000. Institutional investors and hedge funds own 74.77% of the company's stock.

General Electric Stock Down 0.8 %

GE stock traded down $1.44 during trading on Wednesday, reaching $169.83. 3,145,375 shares of the stock were exchanged, compared to its average volume of 6,109,769. The firm's 50 day moving average is $181.46 and its 200 day moving average is $172.50. General Electric has a twelve month low of $95.92 and a twelve month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market cap of $183.81 billion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17.

General Electric (NYSE:GE - Get Free Report) last issued 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 firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.82 earnings per share. As a group, research analysts forecast that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. General Electric's dividend payout ratio (DPR) is currently 19.68%.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 15,550 shares of the business's stock in a transaction dated 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 transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the business's stock in a transaction dated 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 transaction, the senior vice president now owns 13,289 shares of the company's stock, valued at approximately $2,407,036.57. The trade was 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 corporate insiders.

Wall Street Analysts Forecast Growth

GE has been the subject of several recent research reports. UBS Group boosted their price target on General Electric from $223.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Bank of America boosted their price target on General Electric from $180.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $212.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Sanford C. Bernstein lifted their price objective on General Electric from $201.00 to $225.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Finally, Royal Bank of Canada dropped their price objective on General Electric from $210.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, General Electric has a consensus rating of "Moderate Buy" and an average price target of $201.93.

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.