Meridian Management Co. Increases Stake in General Electric (NYSE:GE)

Meridian Management Co. boosted its stake in shares of General Electric (NYSE:GE) by 1.2% in the 3rd quarter, Holdings Channel reports. The fund owned 5,153 shares of the conglomerate’s stock after buying an additional 61 shares during the period. Meridian Management Co.’s holdings in General Electric were worth $972,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Catalyst Capital Advisors LLC raised its position in General Electric by 117.7% during the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after acquiring an additional 146 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after buying an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC purchased a new stake in shares of General Electric in the second quarter valued at approximately $1,569,000. GAMMA Investing LLC increased its position in shares of General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after buying an additional 3,442 shares in the last quarter. Finally, Senator Investment Group LP purchased a new stake in shares of General Electric in the second quarter valued at approximately $34,973,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Performance

NYSE GE opened at $184.62 on Tuesday. General Electric has a fifty-two week low of $91.77 and a fifty-two week high of $194.80. The stock’s fifty day moving average is $180.98 and its two-hundred day moving average is $170.19. The firm has a market capitalization of $199.81 billion, a P/E ratio of 32.45, a price-to-earnings-growth ratio of 1.82 and a beta of 1.19. 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 (NYSE:GE) last announced its quarterly 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. 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 for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the company posted $0.82 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GE shares. Bank of America boosted their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Melius Research boosted their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Barclays boosted their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company boosted their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.