Victory Capital Management Inc. Lowers Position in General Electric (NYSE:GE)

Victory Capital Management Inc. trimmed its position in General Electric (NYSE:GE - Free Report) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 347,892 shares of the conglomerate's stock after selling 20,750 shares during the quarter. Victory Capital Management Inc.'s holdings in General Electric were worth $65,605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Studio Investment Management LLC raised its holdings in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate's stock worth $25,000 after buying an additional 78 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of General Electric in the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric during the third quarter valued at $27,000. MFA Wealth Advisors LLC acquired a new stake in General Electric in the second quarter worth about $31,000. Finally, Costello Asset Management INC lifted its holdings in General Electric by 92.0% in the third quarter. Costello Asset Management INC now owns 167 shares of the conglomerate's stock valued at $31,000 after buying an additional 80 shares during the period. 74.77% of the stock is owned by institutional investors.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were 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 $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.66% of the company's stock.

General Electric Stock Down 1.1 %

Shares of NYSE GE traded down $1.90 during mid-day trading on Friday, hitting $176.50. 2,564,201 shares of the stock traded hands, compared to its average volume of 6,231,337. 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 company has a market cap of $191.02 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.81 and a beta of 1.19. The stock has a fifty day moving average price of $181.98 and a 200-day moving average price of $170.48. General Electric has a 52 week low of $93.05 and a 52 week high of $194.80.

General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings data 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. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. The business's quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts anticipate that General Electric will post 4.22 EPS 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 was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.63%. General Electric's payout ratio is presently 19.68%.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on General Electric from $205.00 to $210.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Royal Bank of Canada decreased their target price on General Electric from $210.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Finally, Citigroup increased their price target on General Electric from $198.00 to $216.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $200.93.

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.