Y Intercept Hong Kong Ltd Invests $1.37 Million in General Electric (NYSE:GE)

Y Intercept Hong Kong Ltd purchased a new stake in shares of General Electric (NYSE:GE - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 7,288 shares of the conglomerate's stock, valued at approximately $1,374,000.

Other institutional investors also recently modified their holdings of the company. Toth Financial Advisory Corp purchased a new stake in shares of General Electric during the 3rd quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric during the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. bought a new stake in General Electric during the 3rd quarter worth approximately $28,000. Finally, Studio Investment Management LLC increased its holdings in General Electric by 97.5% during the 2nd 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. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the firm's stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 148,857 shares of the company's stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 13,289 shares of the company's stock, valued at approximately $2,407,036.57. This represents 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.

General Electric Trading Down 2.3 %

Shares of GE stock traded down $3.81 on Thursday, hitting $164.83. 7,745,899 shares of the company's stock traded hands, compared to its average volume of 6,135,675. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a one year low of $95.92 and a one year high of $194.80. The company's fifty day simple moving average is $181.11 and its 200 day simple moving average is $172.48. The stock has a market capitalization of $178.39 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 1.69 and a beta of 1.17.

General Electric (NYSE:GE - Get Free Report) last released its 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 company 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 firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 EPS. Equities analysts forecast that General Electric will post 4.24 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 given 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 0.68%. General Electric's payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GE shares. Citigroup upped their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. UBS Group upped their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Finally, Royal Bank of Canada decreased their price target 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. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.