L.M. Kohn & Company Invests $255,000 in General Electric (NYSE:GE)

L.M. Kohn & Company bought a new position in shares of General Electric (NYSE:GE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,353 shares of the conglomerate’s stock, valued at approximately $255,000.

Other hedge funds have also made changes to their positions in the company. Kolinsky Wealth Management LLC acquired a new stake in General Electric in the third quarter valued at about $309,000. Circle Wealth Management LLC acquired a new stake in General Electric in the third quarter valued at about $226,000. CWS Financial Advisors LLC acquired a new stake in General Electric in the third quarter valued at about $237,000. Teachers Insurance & Annuity Association of America acquired a new stake in General Electric in the third quarter valued at about $304,000. Finally, Vinva Investment Management Ltd lifted its position in General Electric by 218.2% in the third quarter. Vinva Investment Management Ltd now owns 20,366 shares of the conglomerate’s stock valued at $3,775,000 after purchasing an additional 13,965 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 0.9 %

GE stock opened at $182.16 on Friday. The stock has a market capitalization of $197.15 billion, a P/E ratio of 32.01, a PEG ratio of 1.78 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 has a one year low of $94.54 and a one year high of $194.80. The company has a 50 day moving average price of $183.01 and a two-hundred day moving average price of $171.74.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 EPS. As a group, sell-side analysts expect that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The business also recently declared 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 dividend yield of 0.61%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Sanford C. Bernstein raised their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada reduced their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Citigroup lifted their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, UBS Group lifted their price target 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. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

Insider Activity at General Electric

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

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.