General Electric (NYSE:GE) Shares Sold by Sargent Investment Group LLC

Sargent Investment Group LLC reduced its stake in shares of General Electric (NYSE:GE) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,627 shares of the conglomerate’s stock after selling 839 shares during the quarter. Sargent Investment Group LLC’s holdings in General Electric were worth $2,758,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Newport Trust Company LLC acquired a new position in shares of General Electric in the second quarter valued at approximately $2,613,332,000. Capital World Investors increased its position in General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Capital International Investors grew its stake in General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after buying an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board grew its stake in General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after buying an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of General Electric in the second quarter valued at $580,200,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the topic of a number of research reports. Barclays increased their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. UBS Group raised their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup raised 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. Bank of America raised their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price 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. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Performance

General Electric stock traded down $1.68 during mid-day trading on Thursday, hitting $181.88. 950,885 shares of the company’s stock traded hands, compared to its average volume of 6,229,222. The firm has a 50 day simple moving average of $181.69 and a two-hundred day simple moving average of $170.43. General Electric has a fifty-two week low of $92.58 and a fifty-two week high of $194.80. The stock has a market cap of $196.85 billion, a price-to-earnings ratio of 32.06, a P/E/G ratio of 1.80 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS 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 company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts expect that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors 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 annualized dividend and a yield of 0.62%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Insider Buying and Selling at General Electric

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 transaction 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.66% of the company’s stock.

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.