Douglass Winthrop Advisors LLC Grows Position in General Electric (NYSE:GE)

Douglass Winthrop Advisors LLC raised its position in shares of General Electric (NYSE:GE) by 50.1% during the 3rd quarter, Holdings Channel reports. The fund owned 4,989 shares of the conglomerate’s stock after purchasing an additional 1,665 shares during the period. Douglass Winthrop Advisors LLC’s holdings in General Electric were worth $941,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GE. Toth Financial Advisory Corp bought a new stake in shares of General Electric in the 3rd quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric in the third quarter worth $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric during the third quarter worth $27,000. Peterson Financial Group Inc. bought a new position in General Electric during the third quarter valued at $28,000. Finally, Studio Investment Management LLC raised its stake in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the period. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Down 0.5 %

General Electric stock opened at $180.21 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a market cap of $195.04 billion, a P/E ratio of 31.67, a P/E/G ratio of 1.78 and a beta of 1.19. The business has a fifty day moving average of $183.20 and a two-hundred day moving average of $171.22. General Electric has a twelve month low of $94.54 and a twelve month high of $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share 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 firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the prior year, the business posted $0.82 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts forecast that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

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

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on 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 transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on 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 owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on GE. Melius Research upped their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Citigroup upped their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein upped their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Bank of America boosted their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Company 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.