Quest Partners LLC Raises Stock Position in General Electric (NYSE:GE)

Quest Partners LLC lifted its position in shares of General Electric (NYSE:GE - Free Report) by 126.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,156 shares of the conglomerate's stock after buying an additional 2,875 shares during the quarter. Quest Partners LLC's holdings in General Electric were worth $972,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CreativeOne Wealth LLC lifted its stake in General Electric by 80.5% during the 1st quarter. CreativeOne Wealth LLC now owns 7,176 shares of the conglomerate's stock valued at $1,260,000 after acquiring an additional 3,201 shares during the period. EP Wealth Advisors LLC raised its holdings in General Electric by 11.9% in the 1st quarter. EP Wealth Advisors LLC now owns 19,130 shares of the conglomerate's stock worth $3,358,000 after purchasing an additional 2,036 shares during the period. Axxcess Wealth Management LLC boosted its position in General Electric by 33.8% during the first quarter. Axxcess Wealth Management LLC now owns 10,194 shares of the conglomerate's stock worth $1,789,000 after purchasing an additional 2,575 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of General Electric by 94.4% in the first quarter. Advisors Asset Management Inc. now owns 10,405 shares of the conglomerate's stock valued at $1,826,000 after buying an additional 5,054 shares in the last quarter. Finally, Cadence Bank acquired a new stake in General Electric in the 1st quarter valued at $266,000. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. UBS Group increased their target price on General Electric from $223.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Barclays lifted their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Bank of America raised their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, StockNews.com lowered General Electric from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has a consensus rating of "Moderate Buy" and an average target price of $200.93.

General Electric Price Performance

Shares of GE stock traded up $2.59 during mid-day trading on Thursday, reaching $180.57. The stock had a trading volume of 1,737,845 shares, compared to its average volume of 6,181,900. General Electric has a 12-month low of $94.54 and a 12-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 business has a 50-day simple moving average of $182.98 and a 200 day simple moving average of $170.96. The company has a market cap of $195.43 billion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19.

General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The business 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%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 earnings per share. On average, sell-side analysts anticipate that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric's dividend payout ratio is currently 19.68%.

Insider Transactions at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction 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 transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the company's 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. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

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.