Acropolis Investment Management LLC Buys New Stake in General Electric (NYSE:GE)

Acropolis Investment Management LLC bought a new stake in General Electric (NYSE:GE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,454 shares of the conglomerate’s stock, valued at approximately $274,000.

Several other large investors have also recently bought and sold shares of GE. Burney Co. boosted its stake in General Electric by 64.0% in the first quarter. Burney Co. now owns 3,163 shares of the conglomerate’s stock valued at $555,000 after acquiring an additional 1,234 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in General Electric by 15.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 3,822 shares of the conglomerate’s stock valued at $608,000 after acquiring an additional 499 shares in the last quarter. Marcum Wealth LLC boosted its stake in General Electric by 8.4% in the second quarter. Marcum Wealth LLC now owns 2,922 shares of the conglomerate’s stock valued at $465,000 after acquiring an additional 226 shares in the last quarter. HBW Advisory Services LLC boosted its stake in General Electric by 11.2% in the second quarter. HBW Advisory Services LLC now owns 2,163 shares of the conglomerate’s stock valued at $344,000 after acquiring an additional 218 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in General Electric in the second quarter valued at $219,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE:GE opened at $182.16 on Friday. 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 company has a market cap of $197.15 billion, a P/E ratio of 32.01, a PEG ratio of 1.78 and a beta of 1.19. General Electric has a 52 week low of $94.54 and a 52 week high of $194.80. The company has a 50-day moving average price of $183.01 and a 200 day moving average price of $171.74.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the company posted $0.82 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts predict that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

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

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction 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. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GE has been the subject of several research analyst reports. Melius Research upped their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their price objective on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America increased their target price 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. Royal Bank of Canada decreased their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, UBS Group increased their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target 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.