The Manufacturers Life Insurance Company Has $165.39 Million Stock Position in General Electric (NYSE:GE)

The Manufacturers Life Insurance Company lowered its holdings in General Electric (NYSE:GE - Free Report) by 2.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 877,017 shares of the conglomerate's stock after selling 17,769 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of General Electric worth $165,388,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of GE. Toth Financial Advisory Corp bought a new stake in shares of General Electric in the 3rd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric in the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric in the third quarter valued at $27,000. Peterson Financial Group Inc. bought a new position in General Electric in the 3rd quarter worth about $28,000. Finally, Studio Investment Management LLC raised its holdings in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate's stock valued at $25,000 after buying an additional 78 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on GE. Bank of America lifted their target price on General Electric from $180.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein upped their target price on General Electric from $201.00 to $225.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Royal Bank of Canada dropped their target price on shares of General Electric from $210.00 to $200.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. Melius Research raised their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, General Electric currently has a consensus rating of "Moderate Buy" and an average price target of $200.93.

General Electric Stock Performance

GE stock traded down $3.99 during midday trading on Wednesday, hitting $180.61. 2,723,738 shares of the company traded hands, compared to its average volume of 6,172,569. The business has a 50 day simple moving average of $183.23 and a 200-day simple moving average of $171.44. 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 has a twelve month low of $94.54 and a twelve month high of $194.80. The stock has a market capitalization of $195.47 billion, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19.

General Electric (NYSE:GE - Get Free Report) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. The firm 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%. The business's revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 EPS. As a group, equities research analysts predict that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders 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 dividend yield of 0.62%. General Electric's dividend payout ratio (DPR) is presently 19.68%.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the business's 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 sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the business's stock in a transaction on Monday, November 18th. The shares were 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 $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

General Electric 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.