By otakuyassine3@gmail.com 
Perpetual Ltd lifted its position in shares of General Electric (NYSE:GE – Free Report) by 13.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,785 shares of the conglomerate’s stock after acquiring an additional 1,905 shares during the quarter. Perpetual Ltd’s holdings in General Electric were worth $2,633,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC lifted its holdings in shares of General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after buying an additional 146 shares during the period. Mackenzie Financial Corp raised its position in General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after acquiring an additional 57,372 shares in the last quarter. Johnson & White Wealth Management LLC acquired a new stake in General Electric in the fourth quarter valued at $733,000. State Street Corp boosted its position in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Finally, Soltis Investment Advisors LLC grew its stake in shares of General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after purchasing an additional 20,575 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.
General Electric Stock Up 2.5 %
Shares of NYSE GE opened at $187.46 on Wednesday. The firm’s 50 day moving average price is $174.30 and its 200 day moving average price is $174.30. 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 firm has a market cap of $202.89 billion, a P/E ratio of 32.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.19. General Electric has a 1 year low of $101.16 and a 1 year high of $194.80.
General Electric (NYSE:GE – Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating 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 business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the previous year, the business earned $0.82 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that General Electric will post 4.23 earnings per share for the current year.
General Electric Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio is currently 19.68%.
Insider Buying and Selling
In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The stock was 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 approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $1,267,910.00. Following 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 trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently commented on GE shares. Melius Research raised their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Royal Bank of Canada dropped their price objective 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. Citigroup boosted their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $201.47.
Read Our Latest Stock Analysis on General Electric
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.
See Also
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE – Free Report).
Receive News & Ratings for General Electric Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for General Electric and related companies with MarketBeat.com’s FREE daily email newsletter.