Strategy Asset Managers LLC Purchases New Shares in General Electric (NYSE:GE)

Strategy Asset Managers LLC purchased a new stake in shares of General Electric (NYSE:GE - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,528 shares of the conglomerate's stock, valued at approximately $854,000.

A number of other large investors also recently made changes to their positions in the company. Studio Investment Management LLC raised its position in 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 acquiring an additional 78 shares during the period. Toth Financial Advisory Corp bought a new stake in General Electric in the third quarter worth about $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric in the third quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric in the third quarter worth about $27,000. Finally, Peterson Financial Group Inc. bought a new stake in General Electric in the third quarter worth about $28,000. 74.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company's stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.66% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GE. Royal Bank of Canada lowered 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 report on Wednesday, October 23rd. Barclays boosted their price target on shares of General Electric from $175.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, July 30th. Wells Fargo & Company boosted their price target on shares of General Electric from $205.00 to $210.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. 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. Finally, Sanford C. Bernstein boosted their price target on shares of General Electric from $201.00 to $225.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $200.93.

General Electric Price Performance

GE stock opened at $177.56 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a one year low of $94.54 and a one year high of $194.80. The stock has a market cap of $192.17 billion, a PE ratio of 31.20, a P/E/G ratio of 1.75 and a beta of 1.19. The firm has a 50 day simple moving average of $182.75 and a two-hundred day simple moving average of $170.91.

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, topping analysts' consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to analysts' expectations of $9.02 billion. During the same quarter in the previous year, the company earned $0.82 EPS. The business's quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts predict that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

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

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