Centaurus Financial Inc. Acquires 5,330 Shares of General Electric (NYSE:GE)

Centaurus Financial Inc. increased its holdings in General Electric (NYSE:GE) by 156.6% during the third quarter, HoldingsChannel reports. The fund owned 8,734 shares of the conglomerate’s stock after acquiring an additional 5,330 shares during the quarter. Centaurus Financial Inc.’s holdings in General Electric were worth $1,647,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Newport Trust Company LLC bought a new stake in shares of General Electric in the 2nd quarter worth $2,613,332,000. Jennison Associates LLC lifted its position in shares of General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after purchasing an additional 3,719,894 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in General Electric during the second quarter worth about $580,200,000. International Assets Investment Management LLC grew its position in General Electric by 21,069.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after purchasing an additional 3,158,153 shares in the last quarter. Finally, Wulff Hansen & CO. increased its stake in General Electric by 18,693.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock valued at $256,581,000 after buying an additional 1,605,434 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Insider Activity at General Electric

In other General Electric news, 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 sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated 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 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 disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

General Electric Stock Up 1.4 %

GE stock opened at $181.15 on Monday. The stock has a 50-day simple moving average of $183.22 and a two-hundred day simple moving average of $171.13. General Electric has a twelve month low of $94.54 and a twelve month high of $194.80. The firm has a market capitalization of $196.06 billion, a PE ratio of 31.84, a PEG ratio of 1.78 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its quarterly earnings data 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 net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the previous year, the company earned $0.82 earnings per share. General Electric’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts predict that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Analyst Upgrades and Downgrades

GE has been the topic of a number of research analyst reports. Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Citigroup upped their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Bank of America raised their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Sanford C. Bernstein raised their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

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.